Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. As they groom more dogs, the opportunity cost of grooming additional dogs

A regressive income tax is defined as a tax for which

A) total taxes paid increase with the level of income. B) total taxes paid are independent of the level of income. C) the average tax rate increases with the level of income. D) the average tax rate decreases with the level of income.

Which of the following is not associated with the monopoly market structure?

a. Many sellers. b. A single seller. c. A unique product. d. Impossible entry into the market.