A monopolist's marginal revenue curve is flatter than its demand curve

Which of these is NOT an element of fiscal policy?

A. Government spending B. Interest rates C. Taxes D. Government borrowing

Past expenses are irrelevant to supply decisions, because

A) expenses incurred in the past never affect the opportunities available in the present. B) it is essential to avoid bankruptcy. C) no one remembers the past. D) supply decisions depend on opportunities that will have to be forgone, not opportunities already forgone.