Most changes to the tax code are in the form of loopholes that allows special interests to reduce their tax liability

In Figure 4-5 above, at what point do we find the commodity market in equilibrium while the money market is not?

A) A B) B C) C D) D E) E

The Acme Company is a perfect competitor in its input markets and a monopolist in its output market. Its average product of labor is 30, the marginal product of labor is 20, the price of labor is $20, and the price of the output is $5

For Acme Company, the marginal revenue product of labor A) is $100. B) is $150. C) is $400. D) is $600. E) cannot be determined with the information provided.