A unit tax of $1 has been levied on a good. The equilibrium price of the good will most likely
A) increase by $1.
B) remain unchanged.
C) decrease by $1.
D) increase by an amount less than $1.
D
Economics
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Jennifer owns a pig farm near Salina, Kansas. Last year she earned $39,000 in total revenue while incurring $38,000 in explicit costs. She could have earned $27,000 as a teacher in Salina. These are all her revenue and costs
Therefore Jennifer earned an A) accounting profit of $1,000 but incurred an economic loss of $26,000. B) accounting profit of $1,000 but incurred an economic loss of $65,000. C) accounting profit of $1,000 but incurred an economic loss of $38,000. D) economic profit of $1,000. E) None of the above answers is correct.
Economics
If supply increases, then quantity demanded decreases
a. True b. False
Economics