A firm's profit can be calculated by subtracting its total revenue from its total costs

Because resources are scarce, economists would say that

A) people's wants are unlimited. B) anything worth doing is worth doing well. C) every choice has an opportunity cost. D) there are no benefits from cooperation. E) the best things in life are always free.

Many economists believe that tax cuts increase incentives to work and invest but current U.S. tax levels do not appear to be on the downward side of the Laffer curve

a. True b. False Indicate whether the statement is true or false