The graph illustrates the supply of sweaters. Which of the following events will increase the quantity supplied of sweaters?
A) a rise in the price of a sweater
B) a rise in the wage rate paid to the workers who make sweaters
C) a rise in the expected future price of a sweater
D) an increase in the number of sellers of sweaters
E) a decrease in the number of sweater buyers
A
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An increase in subsidies and other government spending during a recession is likely to result in
a. an increase in rent-seeking activity. b. an increase in productive projects and a reduction in unproductive projects. c. a decrease in the level of future taxes. d. greater reliance on profits and losses in the allocation of resources.
At the optimal quantity of a public good:
A. marginal benefit exceeds marginal cost by the greatest amount. B. total benefit equals total cost. C. marginal benefit equals marginal cost. D. marginal benefit is zero.