If a monopolist's demand curve shifts to the left such that it becomes tangent to the ATC curve at the output for which marginal revenue equals marginal cost, the monopolist will make only a normal profit

Many younger people eat peanut butter AND jelly, whereas many older people eat peanut butter OR jelly. This suggests that the cross elasticity of demand between peanut butter and jelly is

A) negative for youngsters and positive for oldsters. B) positive for youngsters and negative for oldsters. C) negative for youngsters and zero for oldsters. D) positive for youngsters and zero for oldsters.

A city government imposes a proportional income tax on all people who earn income within its city limits. In? 2004, the? city's income tax rate was 0.04 ?(4 ?percent), and it collected ?$20.00 million in income taxes. In? 2005, it raised the income tax rate to 0.05 ?(5 ?percent), and its income tax collections declined to ?$19.20 million. What happened to the? city's income tax base between 2004 and? 2005? What would cause a fall in the tax? base?

A.It cannot be determined since the tax rate changed.

B. It rose by ?$116 million.

C. It fell by  $0.800.80 million.

D. It fell by $116 million.

A. Incomes of city residents fell.

B.The number of residents earning income fell.

C.Either of the above.