You Have to File a Personal Tax Return for the Following

question 6

Multiple Choice

You have to file a personal tax return for the following reasons except

• A)you received Working Income Tax Benefit (WITB).
• B)you have to repay some OAS or EI benefits.
• C)the CRA sent you a request to file a return.
• D)you are eligible for the GST/HST credit.

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Definitions:

Market Price

The present cost at which a service or asset is available for purchase or sale.

P > MC

Indicates a situation where the price (P) of a good is greater than the marginal cost (MC) of producing it, suggesting the potential for economic profits.

Short Run

A time period in economics during which at least one factor of production is fixed, limiting the ability of the business to adjust to market changes fully.

Monopolistically Competitive Firm

A type of firm in a market structure where many companies sell products that are similar but not identical, and each has some control over its price.