Which one of the following would cause an increase in the supply of cardboard?
A) a decrease in the demand for cardboard
B) an increase in the price of cardboard
C) an increase in taxes applied to cardboard producers
D) an improvement in the technology used to produce cardboard
D
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Capital accumulation definitely
A) has no impact on the production possibilities frontier. B) shifts the production possibilities frontier inward. C) makes the production possibilities frontier steeper. D) shifts the production possibilities frontier outward.
Explain why some argue that income tax loopholes primarily benefit the rich
In the long run, monopolistically competitive firms have:
A. excess capacity. B. positive profits. C. minimal average costs. D. homogeneous production.
If the government imposes an excise tax on a good equal to $5 per unit and the demand curve for this good is vertical, the supply of this good will shift:
A. downward and the price will decrease by less than $5. B. downward and the price will decrease by $5. C. upward and the price will increase by $5. D. upward and the price will increase by less than $5.