Which of the following is an example of an ad valorem tax?
A) 5% of price.
B) 5% of quantity sold.
C) $0.50 per unit sold.
D) Government regulation.
A
Economics
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If the demand for dog grooming increases so that the price of dog grooming rises, then number of workers hired by Doug's Dog Grooming would
A) decrease. B) increase. C) remain unchanged. D) Any of the above answers are possible.
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Rembrandt paintings are expensive and not as vital for life as milk, which is cheap
Marginal utility theory explains this paradox of value: The total utility from a Rembrandt painting is ________ than the total utility from milk, and the marginal utility from a Rembrandt painting is ________ than the marginal utility from milk. A) smaller; smaller B) smaller; larger C) larger; smaller D) larger; larger
Economics