Conglomerate mergers involve more than two firms

In a progressive tax system, ________

A) the average tax rate equals the marginal tax rate B) the marginal tax rate exceeds the average tax rate C) the average tax rate exceeds the marginal tax rate D) the average tax rate is equal for all taxpayers

In the above figure, a price floor of $4

A) leads to a shortage. B) leads to a surplus. C) has no effect. D) shifts the demand curve leftward.