Refer to Figure 18.4. With a tariff, how much does the government collect for each glove imported into Duckland?

What is the goal of fiscal policy, and what tools have policymakers traditionally used to conduct fiscal policy?

What will be an ideal response?

Al’s Donuts produces about 600 dozen doughnuts daily. If flour prices increase 20 percent,

A. only marginal cost will shift up. B. only marginal cost and average total cost will shift up. C. marginal cost, average variable cost, and average total cost will shift up. D. marginal cost, average total cost, average variable cost, and average fixed cost will shift up.