A tax imposed on the buyers of a good will lower the
a. price paid by buyers and lower the equilibrium quantity.
b. price paid by buyers and raise the equilibrium quantity.
c. effective price received by sellers and lower the equilibrium quantity.
d. effective price received by sellers and raise the equilibrium quantity.
c
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When deciding on output levels, members of a cartel
A) set their output where MR = MC. B) produce the same level of output as if they were in a competitive market. C) take into account the impact of changes on members' profits. D) act as if they were monopolies.
What are the disadvantages of a standard form contract?
The supply of loanable funds curve is downward sloping
a. True b. False
The minimum wage is an example of a
A) price door. B) price wall. C) price floor. D) price ceiling.