A $0.50 tax levied on the buyers of pomegranate juice will shift the demand curve
A. downward by less than $0.50.
B. downward by exactly $0.50.
C. upward by exactly $0.50.
D. upward by less than $0.50.
B. downward by exactly $0.50.
You might also like to view...
A rival good is defined as a good for which there are substitutes
Indicate whether the statement is true or false
One of the reasons that concentration ratios are not a perfect measure of competitiveness is that they
A) do not measure how high the industry's prices are. B) cannot be measured. C) ignore potential competition. D) tell nothing about how high prices were in the past.
An "experience good" is one that:
a. Only an expert can use b. Has undetectable quality when purchased c. Can be readily experienced simply by touching or tasting d. Improves with age, like a fine wine e. All of the above
Which of the following is not considered a barrier to entry?
a. large economies of scale b. control of inputs used in production c. a homogeneous product d. patents e. copyrights