Which of the following is a significant change in public policy in the U.S. since the 1980s?
A. Significant decrease in property tax rates
B. Decline in tax rates on capital gains
C. Increase in tax rates on carried interests
D. Significant increase in inheritance tax rates
Answer: B
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A monopolist seller of Irish ceramics faces the following demand function for its product: P = 62 - 3Q. The fixed cost is $10 and the variable cost per unit is $2 . What is the maximizing QUANTITY for this monopoly?
a. Q = 10 b. Q = 15 c. Q = 22 d. Q = 37 e. Q = 41
The theory of land rent holds that
a. all plots of land are identical. b. all land yields a positive rent return. c. rent on any piece of land will equal the difference between the cost of producing the output on that land and the cost of producing it on marginal land. d. competition for superior plots of land will force the rent on those lands to a marginal return of zero.