Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to

a. shift rightward.
b. shift leftward.
c. become flatter.
d. remain unchanged.

b

Economics

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Suppose a tax of $0.50 per unit on a good creates a deadweight loss of $100 . If the tax is increased to $2.50 per unit, the deadweight loss from the new tax would be

a. $200. b. $250. c. $500. d. $2,500.

Economics

The equipment and structures available to produce goods and services are called

a. physical capital. b. human capital. c. the production function. d. technology.

Economics