Question: a tariff is an example of a market structure tax...
A tariff is a(n)
|example of a market structure.|
|tax on domestically produced and sold products.|
|natural barrier to entry.|
|way to promote competition.|
tax on an import.
Use the following scenario to answer the following questions:
Carmela’s Churros is a perfectly competitive firm that sells
desserts in Houston, Texas. Carmela’s Churros currently is taking
in $40,000 in revenues, and has $15,000 in explicit costs and
$25,000 in implicit costs.
Carmela’s Churros’ accounting profits are