The Impact of Carbon Taxes on the Energy Usage of Individual

question 87

Multiple Choice

The impact of carbon taxes on the energy usage of individual households and firms is studied under ________.

• A) microeconomics
• B) macroeconomics
• C) normative economics
• D) positive economics

---

Definitions:

Vertical Axis

The y-axis in a graph or chart, which typically represents the dependent variable in a data set.

Total Cost Curve

A graph that depicts how the total costs of production vary with the level of output.

Economic Profit

A measure of performance that captures the surplus generated from business activities after accounting for both explicit and implicit costs.

Shuts Down

A temporary or permanent cessation of operations by a firm when it is not covering variable costs of production or facing insolvency.