Other things being equal, the more elastic demand is:
a. the lower the deadweight loss is resulting from the imposition of a particular tax on a product.
b. the greater the deadweight loss is resulting from the imposition of a particular tax on a product.
c. the greater the fraction is of the burden of the tax borne by consumers

A firm should always shut down if its revenue is

A) declining. B) less than its average fixed costs. C) less than its total costs. D) less than its avoidable costs.

When firms are able to increase the amount of physical capital available to workers, the

a. marginal product of labor will decrease. b. value of the marginal product of labor will decrease. c. value of the marginal product of labor will increase. d. final product price will increase.