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6. Define a lump-sum tax. Describe how a lump sum tax levied on a firm affects each of the following: a. a firm's profit-maximizing level

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6. Define a lump-sum tax. Describe how a lump sum tax levied on a firm affects each of the following: a. a firm's profit-maximizing level of output b. a firm's profits? c. Efficiency in the market 7. Define a per unit tax. Describe how a lump sum tax levied on a firm affects each of the following: a. a firm's profit-maximizing level of output b. a firm's profits? c. Efficiency in the market

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