Unit excise taxes imposed on gasoline, alcohol, and cigarettes are
A) largely paid by the producers because they want to maintain their level of sales.
B) largely paid by consumers because they are not very responsive to price changes.
C) shared equally between the producer and the consumer.
D) paid by the wholesalers of these products.
B
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Because firms can free ride on the research and development of other firms
A) firms choose a level of research and development where the marginal cost of research is above the economy's marginal return of research. B) firms choose a level of research and development where the marginal cost of research is equal to the economy's marginal return of research. C) firms choose a level of research and development where the marginal cost of research is below the economy's marginal return of research. D) firms choose a level of research and development where the marginal cost of research is below the individual firm's marginal return of research.
The price/earnings (PE) ratio of a stock is found by
a. dividing the most recent year's dividend by the current stock price b. dividing the current stock price by the after-tax profit per share c. dividing the most recent year's dividend by retained earnings d. dividing the current stock price by the Dow Jones Industrial Average e. dividing the current stock price by the present value of the firm