If a tax is levied on the buyers of a product, then the supply curve will
a. not shift.
b. shift up.
c. shift down.
d. become flatter.
a
You might also like to view...
In a competitive separating equilibrium, low cost consumers of insurance will not fully insure because insurance rates offered to them are not actuarily fair.
Answer the following statement true (T) or false (F)
Refer to the scenario above. Which of the following is likely to be true if Joe is known to be trustworthy?
A) Multiple equilibria will occur. B) A Nash equilibrium will occur. C) A socially inefficient equilibrium will occur. D) A dominant strategy equilibrium will occur.
A noncooperative game situation may occur when
A) firms collude. B) firms find collusion too costly. C) firms merge. D) firms agree to price fixing.
Opportunity cost is defined
a. only in terms of money spent b. as the value of all alternatives not chosen c. as the value of the best alternative not chosen d. as the difference between the benefits from a choice and the benefits from the next best alternative e. as the difference between the benefits from a choice and the costs of that choice