Local government expenditures depend on which taxes?
A) revenues from licenses and permits
B) local property, sales, and excise taxes
C) capital gains taxes
D) Social Security taxes
B
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Maria helps tutor students taking economics. The equilibrium price for tutoring is $15 per hour
Maria has determined her opportunity cost per hour to be $6 for the first, $9 for the second, $12 for the third, $15 for the fourth, and $18 for the fifth. How many hours will Maria tutor? Why this amount of hours? What, if any, is Maria's producer surplus?
At a monopolistically competitive firm's current level of product development, marginal revenue of product development is greater than its marginal cost. The firm will ________
A) sell only new products B) increase product development only if the consumer benefits C) decrease product development D) increase product development