In a perfectly competitive market, a firm in long-run equilibrium will be operating
A) to the right of the minimum of the long-run average cost curve.
B) to the left of the minimum of the long-run average cost curve.
C) at the minimum of the long-run average cost curve.
D) at the minimum of the marginal cost curve.
C
Economics
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Which of the following taxes does NOT lead to a deadweight loss?
A) A proportional income tax B) A lump-sum tax C) A progressive income tax D) A proportional tax on property
Economics
Refer to the above figure. Production at Point F
A) is not attainable given the underlying assumptions of the production possibilities curve (PPC). B) would not be desirable. C) can only be attained by giving up Point E. D) can be attained only if a society desired more goods and services.
Economics