Multiple levels of government are desirable because _____
a. different governmental activities are best undertaken by governments of different sizes
b. many governmental activities can only be financed if taxed at multiple levels of government
c. multiple levels of government provide sufficient bureaucracy to deal with the complex problems faced by today's governments
d. government could not be financed adequately without local governments doing the majority of the work ensuring compliance with the tax system
a
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A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. At this output, average total cost is $15. What is the total profit earned?
A) $225 B) $285 C) $345 D) $570 E) $19
In 2014, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. In the current market for peanut butter, the price falls and the quantity decreases
This set of results means that A) supply decreased by more than demand increased. B) demand increased by more than supply decreased. C) demand increased by more than supply increased. D) supply decreased by more than demand decreased.