In the U.S., taxes are paid on one's _____ gains/returns. Therefore, a _____ inflation rate encourages more saving

Refer to Figure 2-2. If Vidalia chooses to produce 50 dozen roses, how many orchids can it produce to maximize production?

A) 20 dozen orchids B) 40 dozen orchids C) 60 dozen orchids D) 80 dozen orchids

Firms in a given industry are affected by the tariff imposed on the product they sell, but not by the tariffs imposed on their purchased inputs.

Answer the following statement true (T) or false (F)