The imposition of a tariff will typically ________ government revenue and ________ domestic production of the good

The marginal benefit of a worker to a firm is the value of the extra output that results when

A) work is outsourced to a foreign country. B) workers get paid for working overtime. C) some workers are laid off and the remaining workers become more productive. D) an additional worker is hired.

You are the manager of a popular hat company. You know that the advertising elasticity of demand for your product is 0.25. How much will you have to increase advertising in order to increase demand by 5 percent?

A. 0.05 percent B. 1.25 percent C. 20 percent D. 25 percent