A tax structure is progressive as long as a person who has more income pays
A. the same rate of tax than someone who has less income.
B. a higher rate of tax than someone who has less income.
C. the same tax than someone who has less income.
D. more tax than someone who has less income.
Answer: B
Economics
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If a firm faces a labor supply curve that is positively sloped, then the marginal cost of labor curve
A) equals the wage rate. B) equals the minimum wage. C) lies above the value of marginal product curve. D) lies above the labor supply curve.
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If a firm wants to maximize profits, it should hire workers up to the point at which
A) total factor cost = total revenue. B) marginal factor cost = marginal revenue product. C) marginal utility = marginal cost. D) total social benefit = total social costs.
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