In the following situation the tax system is Taxable income $1,000 $3,000 $9,000 $27,000 Taxes $100 $200 $400 $800
a. progressive through all levels of income
b. proportional throughout all levels of income
c. regressive throughout all levels of income
d. based on the benefits-received principle
e. there is insufficient information to answer the question
C
Economics
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In the long run, profits in a monopolistic competition market are zero because:
a. of government regulations. b. of collusion. c. firms are free to enter and exit the market. d. firms produce a differentiated product.
Economics
Economies of scale occur when the percentage increase in output
A) exceeds the percentage increase in all inputs. B) is less than the percentage increase in all inputs. C) exceeds the percentage decrease in all inputs. D) is less than the percentage decrease in all inputs.
Economics