If at its long-run equilibrium output a purely competitive firm’s  minimum average total cost is $10, the average variable cost is $6, and the average fixed cost is $4, then at the equilibrium output, the firm’s marginal cost is $ ______Please do not input the $ sign. If your answer is $200 please input 200 for your answer.

A nondiscriminating monopolist realizes that at present its output level, marginal revenue is $4.00 and marginal cost is $2.00. He or she could maximize profits or minimize losses by:

Suppose the government imposes a $3 excise tax on cigarettes and the price of cigarettes does not change

A pure monopolist is producing an output such that ATC = $4, P = $5, MC = $1, and MR = $2. This firm is realizing:

With tax of $10 on an income of $100, $25 on an income of $200, and $60 on an income of $300 is:

Price Output $23 10 $20 20 $18 30 $16 40 $14 50 $12 60 $8 80 The table above provides information for a monopolistically competitive firm. The profit-maximizing output is:

Which of the following is an example of an excise tax?

Output Total Revenue Total Cost 0 $0 $50 1 $35 $74 2 $70 $94 3 $105 $117 4 $140 $142 5 $175 $172 The table above shows output, total revenue and total cost information for a purely competitive firm.  Refer to this information to answer the following question. The market price of the product in the short run is $ ___Please do not input the $ sign. If your answer is $200 please input 200 for your answer.

In general, sellers will tend to pay a bigger share of a tax on a good if:

A firm finds that at its MR = MC output of 10 units, its minimum average variable cost = $10, marginal cost = Price = $8,and total fixed costs = $250.  If this firm shuts down in the short run, it will realize a loss of $___________.Please do not input the $ sign. If your answer is -$50 please input 50 for your answer.