In the long run the corporate profits tax may lead to
A. higher prices for the products of corporations as well as higher prices for the products of partnerships and proprietorships.
B. higher prices for the products of corporations and lower prices for the products of partnerships and proprietorships.
C. lower prices for the products of corporations and higher prices for the products of partnerships and proprietorships.
D. lower prices for the products of corporations as well as lower prices for the products of partnerships and proprietorships.
Answer: B
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The opportunity cost of an apartment in a rent controlled market is equal to
A) the rent charged for the apartment. B) the opportunity cost of searching for the apartment. C) the rent charged for the apartment plus the opportunity cost of searching for the apartment. D) nothing because of the surplus of apartments when there are rent controls. E) the rent charged for the apartment minus the opportunity cost of searching for the apartment.
There are two equilibria in each of the following two-player games except
A) a prisoner's dilemma game. B) a pure coordination game. C) an assurance game. D) a battle of the sexes game.