In which of the given market situations will the efficiency loss of an excise tax be the greatest?

Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental revenue received from the sale of the last 400 t-shirts?

A) sales revenue B) gross earnings C) gross profit D) marginal revenue

The slope of the production possibility frontier shows

a. how inputs must be changed to keep them fully employed. b. the technically efficient combinations of the two goods. c. how demanders are willing to trade one good for another. d. the opportunity cost of one good in terms of the other.