Individual income taxes generate roughly 25% of the tax revenue for the federal government

A firm will continue to produce in the short run even though economic profits are negative as long as

A) the amount of the loss is no greater than the amount of fixed cost. B) MC = MR. C) it earned positive economic profits last year. D) it has fixed obligations to pay.

As we move down a person's demand curve, marginal utility declines

a. True b. False Indicate whether the statement is true or false