题目内容

A firm is producing 20 units with an average total cost of $25 and marginal cost of $19. If it were to increase production to 21 units, which of the following must occur? ( )

A. Marginal cost would decrease.
B. Marginal cost would increase.
C. Average total cost would decrease.
D. Average total cost would increase.

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The Laffer curve illustrates that, in some circumstances, the government can reduce a tax on a good and increase the ( )

A. deadweight loss.
B. government’s tax revenue.
C. equilibrium quantity.
D. price paid by consumers.

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Jane pays Chuck $50 to mow her lawn every week. When the government levies a mowing tax of $10 on Chuck, he raises his price to $60. Jane continues to hire him at the higher price. What is the change in producer surplus, change in consumer surplus, and deadweight loss? ( )

A. $0, 0, 10
B. $0, −10, 0
C. +$10, −10, 10
D. +$10, −10, 0

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A $1 per unit tax levied on consumers of a good is equivalent to ( )

A. a $1 per unit tax levied on producers of the good.
B. a $1 per unit subsidy paid to producers of the good.
C. a price floor that raises the good’s price by $1 per unit.
D. a price ceiling that raises the good’s price by $1 per unit.

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When the government imposes a binding price floor, it causes ( )

A. the supply curve to shift to the left.
B. the demand curve to shift to the right.
C. a shortage of the good to develop.
D. a surplus of the good to develop.

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A firm is producing 20 units with an average total cost of $25 and marginal cost of $19. If it were to increase production to 21 units, which of the following must occur? ( )

A. Marginal cost would decrease. B. Marginal cost would increase. C. Average total cost would decrease. D. Average total cost would increase.

The Laffer curve illustrates that, in some circumstances, the government can reduce a tax on a good and increase the ( )

Jane pays Chuck $50 to mow her lawn every week. When the government levies a mowing tax of $10 on Chuck, he raises his price to $60. Jane continues to hire him at the higher price. What is the change in producer surplus, change in consumer surplus, and deadweight loss? ( )

A $1 per unit tax levied on consumers of a good is equivalent to ( )

When the government imposes a binding price floor, it causes ( )

A. Marginal cost would decrease.
B. Marginal cost would increase.
C. Average total cost would decrease.
D. Average total cost would increase.