• 2022-06-04
    Suppose that the government imposes a business licence fee of $100 on all firms. Profit-maximizing firms that stay in business will respond to this tax by
    A: raising prices to pay the tax.
    B: cutting output to reduce costs.
    C: lowering prices to stimulate sales.
    D: doing nothing.‍
  • D

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    • 0

      Alfred is registered for sales tax. He makes sales of $25,000 including sales tax and purchases goods for $7,000 excluding sales tax. The opening balance on the sales tax account was $500 credit. Sales tax is 20%.What is the closing balance on the sales tax account? A: $3,600 B: $3,000 C: $2,267 D: $3,267

    • 1

      In perfect collusion, the firms are producing the joint profit-maximizing output。( )

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