The proliferation of Internet usage serves as an example of a favorable supply shock

Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. What is the price of chicken?

A) $0.80/lb B) $1.25/lb C) $4/lb D) $5/lb

Answer the following statement true (T) or false (F)

1) The major expenditure of local governments is for education. 2) A tax is progressive if the average tax rate rises as income increases. 3) If you pay a $2,000 tax on $10,000 of taxable income and a $4,000 tax on a taxable income of $16,000, the tax is progressive. 4) The marginal tax rate is the tax rate that applies to additional income.