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the marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit, and an output of 2 million units.
September 3, 2020Price Elastic or Inelastic Good a.What is an example of a product (or group of products) which you buy or sell whose demand is price inelastic (or,…
September 3, 2020There has been discussion about whether the Tax Cuts and Jobs Act actually reduces deficits and what will happen to U.S. debt. What do you think?
Watch this video: U.S. Deficit to Surpass $1 Trillion Two Years Ahead of Estimates, CBO Says (https://www.bloomberg.com/news/articles/2018-04-09/u-s-budget-deficit-to-balloon-to-1-trillion-by-2020-cbo-says) The video cites the Congressional Budget Office (CBO). Discuss these questions in your post:
- Visit the CBO website (https://www.cbo.gov) and confirm that the reporting is accurate. Was the reporting accurate? Why or why not?
- Do you think the Tax Cuts and Jobs Act will reduce our deficits? Explain your answer.