If a state government wants to collect the maximum tax revenue from a unit excise tax, which of the following would they tax?

Which answer below CORRECTLY describes the relationship between the demand for labor curve and the value of marginal product curve?

A) The curves intersect to determine the equilibrium quantity of labor. B) The value of marginal product curve lies to the right and above the demand for labor curve. C) The curves are the same. D) The value of marginal product curve lies to the left of the demand for labor curve.

The responsiveness of demand to changes in income holding the good's relative price constant is

A) price elasticity of demand. B) income elasticity of demand. C) elasticity of supply. D) cross price elasticity of demand.