Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. This farmer's fixed costs are
A. $0.
B. $24.
C. $45.
D. indeterminate unless we know the level of output the firm is producing.
Answer: B
Economics
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If the demand curve is perfectly inelastic, _____
a. suppliers will bear the entire burden of any tax b. demanders will bear the entire burden of any tax c. suppliers and demanders will split the burden of any tax d. the actual burden of the tax depends upon who is legally required to pay the tax
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What are the strengths and weaknesses of the negative income tax (NIT) as an alternative to traditional welfare programs?
What will be an ideal response?
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