Vipsana's Gyros House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. Vipsana pays her employees $60 per day. She also incurs a fixed cost of $120 per day. Calculate Vipsana's variable cost per day when she

If two families are identical with respect to size, income, general expenses, etc., and are taxed equally, we say that there is

a. horizontal equity. b. vertical equity. c. observance of the ability-to-pay principle. d. intergenerational equity.

Two products that are usually consumed jointly would be referred to as

a. substitutes. b. complements. c. inferior goods. d. unrelated goods.