When tires are taxed and sellers of tires are required to pay the tax to the government,
A) the quantity of tires bought and sold in the market is reduced.
B) the price paid by buyers of tires decreases.
C) the demand for tires decreases.
D) there is a movement downward and to the right along the demand curve for tires.
Ans: A) the quantity of tires bought and sold in the market is reduced.
Economics
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Refer to Table 9.1. Use the rule of thumb to determine in which quarter Gigantica first entered a recession during the years 2010-2012
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If Jason's fixed cost totals $400 with variable cost per unit of $10 at a quantity of 80 units, what would his average total cost at 80 units of output equal?
a. $10 b. $14 c. $15 d. $805
Economics