Which of the following will cause a shift to the left of the supply curve?
A. Increases in the market price of the good being supplied, other things being equal.
B. Increases in taxes per unit of output.
C. Advances in technology.
D. Decreases in input prices.
Answer: B
You might also like to view...
What is the rationale behind a cap-and-trade emission allowance system?
A) It creates a market for externalities. B) It disciplines polluting firms by specifying the maximum amount of emissions allowed and gives them permits to pollute up to their allowance. C) It provides firms with the incentive to consider less costly alternatives to pollution reduction by making firms pay for the right to pollute beyond their specified allowance. D) It raises revenue for the government through the sale of permits.
When an average cost pricing rule is imposed on a natural monopoly, ________
A) total surplus is maximized and the monopoly incurs an economic loss B) the monopoly makes zero economic profit C) the monopoly makes an economic profit D) total surplus is maximized and the monopoly makes an economic profit
If in some range of production, average cost is falling, the firm is experiencing
A. increasing returns to scale. B. decreasing returns to scale. C. constant returns to scale. D. increasing costs per unit of output.
What is featherbedding and why do unions engage in the practice?
What will be an ideal response?