In the Short Run,an Excise Tax Placed on All Firms

question 49

Multiple Choice

In the short run,an excise tax placed on all firms in an increasing-cost competitive industry will result in:

• A)a fall in price and an increase in output.
• B)an increase in output and a fall in price.
• C)a fall in both price and output.
• D)an increase in price and a fall in output.

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Definitions:

Mildly Retarded

This term is considered outdated and offensive; it previously referred to individuals showing below-average intellectual functioning and adaptive behavior, now more appropriately referred to as having mild intellectual disability.

Binet-Simon Scale

An early psychological test developed to measure intelligence by assessing verbal abilities, memory, attention, and problem-solving skills.

Scholastic Achievement

Refers to the level of academic success or performance that a student has achieved, often measured through grades and standardized tests.

Gifted Children

Kids showing remarkably high levels of skill or ability in one or more areas at a notably young age.