Comparing firms in perfectly competitive markets to monopoly firms, which can earn economic profits in the long run?

In the above figure, CBL is the cost of breaking the law. If it is illegal to buy and sell, then the price per unit will be

A) $500. B) $400. C) $300. D) $200.

Two taxes that have consumption as a tax base are ____ taxes and _____ taxes

a. income; general sales b. general sales; valued-added c. excise; income d. estate; retail sales