Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from

In his book Progress and Poverty, Henry George argued that:

poverty is associated with the personal characteristics of individuals and therefore cannot be remedied by government antipoverty programs. B. economic rent could be heavily taxed without impairing the supply of land or therefore the productive capacity of the economy. C. rents should not be taxed because rental income is the basic source of saving, which ultimately permits a high level of investment and economic growth. D. taxes on rents are undesirable because they have a severe disincentive effect on landlords.

In a market where businesses are earning high profits, new entrants will cause the supply curve to shift to the _________ and thus cause the market price to _________.

A. right; rise B. left; rise C. left; fall D. right; fall