A tax levied on the sellers of blueberries
a. increases sellers' costs, reduces profits, and shifts the supply curve up.
b. increases sellers' costs, reduces profits, and shifts the supply curve down.
c. decreases sellers' costs, increases profits, and shifts the supply curve up.
d. decreases sellers' costs, increases profits, and shifts the supply curve down.
a
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Economists spend much of their time
A) describing how choices are made and analyzing the results of those choices. B) arguing that optimal decisions are rarely made at the margin. C) using normative analysis to develop economic models. D) telling businesses what goods and services to produce and how to produce them.
Erin borrowed $18,000 to buy a car. Her loan will be paid off in 5 years. By the time that she pays off the loan, she will have made $20,327 in payments. Why did she have to pay $2,327 more than the price of the car?
(A) She had to pay interest of $2,327 for the privilege of borrowing the creditor of $18,000. (B) She had to pay interest of $2,327 for the privilege of borrowing the principal of $18,000. (C) She had to pay the principal of $2,327 for the privilege of borrowing the mortgage of $18,000. (D) She had to pay a default of $2,327 for the privilege of borrowing the principal of $18,000.