If an Industry consists of two large firms, it is known as a(n)
a. monopoly
b. perfect competition
c. monopolistic competition
d. natural monopoly
e. duopoly
E
Economics
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The table gives the demand and supply schedules for cookies. The government now levies a $0.30 tax on cookies. As a result, the price of a packet of cookies increases by ________ and the tax revenue collected is ________ a week
A) $0.20; $24 B) $0.10; $9 C) $0.20; $20 D) $0.30; $30
Economics
In the leisure-income model, taxing income causes
A. the budget constraint to kink. B. males to work to change their work habits dramatically. C. utility to increase. D. all of these answer options are correct.
Economics