Based on the table below and the principle of diminishing returns to capital, then total packages wrapped when a fourth machine is installed must be less than ________ packages.Number of (Identical) MachinesTotal Packages Wrapped 1110,000213,000315,000 

The above figure illustrates a perfectly competitive firm. Curve A represents the

A) MR curve. B) ATC curve. C) MC curve. D) AVC curve. E) AFC curve.

A tax on a polluting industry

A) is not desirable because it reduces efficiency. B) leads to less output in this industry. C) causes more resources to be used in the polluting industry. D) shifts the marginal social benefit curve leftward. E) shifts the marginal social benefit curve rightward.