Relative to a simultaneous-move situation, the gain to firm R from being able to move first in the game in Scenario 13.14, would be

If a perfectly competitive firm incurs an economic loss, it should

A) shut down immediately. B) try to raise its price. C) shut down in the long run. D) shut down if this loss exceeds fixed cost.

Taxes collected on the basis of the benefits-received principle

a. provide the states with their main sources of revenue b. tend to redistribute income from rich to poor c. collect the same total amount from each individual d. connect the revenue side of the budget with the spending side of the budget e. make it possible for government to spend money on activities that markets can't provide