The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1
The quantity of buckets without the tax is ________ and the quantity with the tax is ________. A) 400; 600
B) 600; 400
C) 400; 400
D) 800; 500
E) 600; 500
B
You might also like to view...
Gary and Diane must prepare a presentation for their marketing class. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours to do the required calculation and 10 hours to prepare the slides. It would take Diane 12 hours to do the calculations and 20 hours to prepare the slides
a. How much time would it take the two to complete the project if they divide the calculations equally and the slides equally? b. How much time would it take the two to complete the project if they use comparative advantage and specialize in calculating or preparing slides? c. If Diane and Gary have the same opportunity cost of $5 per hour, is there a better solution than for each to specialize in calculating or preparing slides?
A profit-maximizing monopolist will ________ where marginal revenue is equal to marginal cost.
A. produce output B. minimize its average total cost C. charge the selling price D. All of the above are correct.