Price should be
A) determined by equating average cost and marginal cost to determine quantity and then setting the price using that quantity and the demand curve.
B) determined by equating marginal revenue and average revenue to determine quantity and then setting the price using that quantity and the demand curve.
C) determined by equating marginal revenue and marginal cost to determine quantity and then setting the price using that quantity and the demand curve.
D) determined by equating marginal revenue and long-run average cost to determine quantity and then setting the price using that quantity and the demand curve.
C
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In the short-run, a firm's supply curve is equal to the
a. marginal cost curve above its average variable cost curve. b. marginal cost curve above its average total cost curve. c. average variable cost curve above its marginal cost curve. d. average total cost curve above its marginal cost curve.
The marginal tax rate is
A. total tax due/total taxable income. B. change in taxes due/total taxable income. C. change in taxes due/change in taxable income. D. total tax due/change in taxable income.