Suppose a taxpayer has an income of $100,000 and a taxable income of $80,000, and pays taxes of $10,000. If the taxpayer talks of being taxed at a 10 percent rate, she is referring to the

In the long run, monopolistically competitive firms produce where demand equals marginal cost

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

Market economies produce outcomes that are

A. virtually ideal in all respects. B. inferior to most other systems. C. far from ideal, in some respects. D. virtually indistinguishable from command economies.