Constant returns to scale cause the long-run average cost curve to be:

A tax levied on the total amount spent in retail stores is called

a. a sales tax. b. an excise tax. c. a retail tax. d. an income tax.

Suppose you borrow $500 and agree to pay this $500 plus $75 of interest at the end of a year. The interest rate is:

A. 10 percent. B. 15 percent. C. 12.5 percent. D. 7.5 percent.