The share of the personal income tax paid by the bottom half of earners
a. rose to an all-time high in 2010.
b. was substantially higher in 2010 than during the 1960s and 1970s.
c. was substantially lower in 2010 than during the 1960s and 1970s.
d. has been relatively constant during the last four decades.
C
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If Project A has a cost of $2, and provides a benefit of $3, and Project B has a cost of $ 5 and provides a benefit of $8, which of the following statements is true?
A) The net benefit of Project A is $5. B) An individual can optimize by choosing Project B. C) Project A has a higher net benefit than Project B. D) A shift from Project A to Project B increases the net benefit by $1.
For each of the following cost functions, if possible, find minimum AC and minimum AVC
a. TC = 40,000 + 20 Q b. TC = 1000 + 2Q + 0.1 Q2