In the market for professional basketball,
a. pro basketball teams are the suppliers and pro basketball players are the demanders
b. pro basketball players are the suppliers and basketball fans are the demanders
c. pro basketball players are the suppliers and pro basketball teams are the demanders
d. pro basketball teams are the suppliers and basketball fans are the demanders
e. basketball fans are the suppliers and pro basketball teams are the demanders
D
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Suppose the government of Southie imposes a per-unit sales tax on buyers in the market for jam and jellies. Which of the following is most likely to be an outcome of the tax?
a. A decrease in the market equilibrium price of jam and jellies b. An increase in the quantity demanded by consumers c. An increase in government revenue by an amount equal to the deadweight loss d. An increase in the demand for jams and jellies