The government redistributes income to the poor, primarily through
A. regressive taxes and disability payments.
B. transfer payments and progressive taxes.
C. government purchases.
D. higher wages.
Answer: B
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Assume that when price is $20, quantity demanded is 9 units, and when price is $19, quantity demanded is 10 units. Based on this information, what is the marginal revenue resulting from an increase in output from 9 units to 10 units?
A) $20 B) $19 C) $10 D) $1
Which statement is true?
A. Since the monopolist is the only firm in the industry, its profit is calculated differently from the way a perfect competitor would calculate profit. B. The monopolist's demand curve and marginal revenue curve are the same line. C. In the long run under monopoly, the most efficient output is the most profitable output. D. A monopolist may lose money in the short-run.