Based on the figure above, curve D is the firm's
A) marginal cost curve.
B) total cost curve.
C) average total cost curve.
D) average variable cost curve.
E) average fixed cost curve.
A
Economics
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In the case of a specific tax, tax incidence is independent of who pays
A) only when supply and demand elasticities are not constant. B) only when the tax is collected from consumers. C) in most but not all cases. D) in all cases.
Economics
A monopsony has an upward sloping supply curve because
A) diminishing marginal product to scale does not exist in a monopsony. B) each additional unit of labor costs less. C) when more units of labor are hired, all laborers must receive the higher wage. D) when more units of labor are hired, only the new workers receive the higher wage.
Economics