Category: Economics Mcqs

An oligopoly with a dominant price leader will produce a level of output ?

A. equal to what a monopolist would choose in the same industry
B. between that which would prevail under competition and that which a monopolist would choose in the same industry
C. that would prevail under competition
D. between that which would prevail under competition and that which a monopolistic competitor would choose in the same industry.

The marginal tax rate is ?

A. the taxes paid by the marginal worker
B. total income divided by total taxes paid
C. the extra taxes paid on an additional unit of income
D. total taxes paid divided by total income