The deadweight loss of taxation from an income tax is because of _____

A teenaged babysitter is similar to a firm in a perfectly competitive industry in that, for both

A) average costs of production do not change when their industry expands. B) fixed costs are lower than variable costs. C) there are many other suppliers of similar goods or services. D) the implicit costs of production exceed the explicit costs of production.

The term "variable input" is used to refer to inputs that vary in terms of quality and, therefore, productivity

Indicate whether the statement is true or false