Hardcover books usually cost much more to purchase than do otherwise identical paperback editions of the same book because
A) hardcover books typically last longer.
B) the demand for hardcover books is typically less elastic than the demand for paperback books at the same price.
C) the marginal cost of producing hardcover books typically rises as output increases.
D) the marginal cost of producing paperback books typically falls as output increases.
E) the mergers in the book-publishing industry have encouraged price discrimination.
B
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Which of the following is true of small changes in productivity growth rates? a. Small changes in productivity growth rates decrease the productivity of workers in the short run compounding the problem. b. The effects of small changes in productivity growth rates are compounded over the years leading to large cumulative effects. c. Small increases in productivity growth rates cause output to
fall. d. The effects of small changes in productivity growth rates are negligible. e. Small decreases in productivity growth rates cause output to increase.
The relative tax burden borne by buyers and sellers is called the:
A. tax wedge. B. tax incidence. C. tax revenue. D. real tax.