In the short run, a constant (as a percentage of profits) corporate income tax imposed on a monopolist will _____

You're traveling in Japan and are thinking about buying a new kimono. You've decided you'd be willing to pay $175 for a new kimono, but kimonos in Japan are all priced in yen

If the kimono you're looking at costs 14,000 yen, under which of the following exchange rates would you be willing to purchase the kimono? (Assume no taxes or duties are associated with the purchase.) A) 24.5 yen per dollar B) 65 yen per dollar C) 80 yen per dollar D) You would purchase the new kimono at any of the above exchange rates.

Any cost of negotiating or enforcing a contract is

a. an external cost. b. a private cost. c. a transaction cost. d. a side payment.