Capitalism is an economic system in which there is public ownership of the means of production and resource allocation is determined through markets.

As long as the supply curve for a good is upward sloping and the demand curve is downward sloping, a sales tax imposed on sellers shifts the supply curve

A) leftward and definitely raises the equilibrium price. B) leftward and possibly raises the equilibrium price. C) rightward and possibly increases the equilibrium quantity. D) rightward and definitely decreases the equilibrium quantity.

Explain how it might be possible to discuss costs of production of a good or service without using monetary values

What will be an ideal response?