What is the average cost per unit if the firm produces 5 units?

A tax is efficient if

A) it is based on profits earned and not on wages. B) it imposes a small excess burden relative to the revenue it raises. C) it encourages saving and investment. D) individuals with the lowest incomes pay proportionately lower taxes than individuals with the highest incomes.

Outcome-oriented notions of equity:

A. focus on the procedures used to arrive at an allocation of resources rather than on the allocation itself. B. focus on whether the process used to allocate resources yields fair results. C. include process-oriented notions of equity. D. focus on what people could choose rather than what they actually choose.