When a tax is placed on a product, the price paid by buyers
a. rises, and the price received by sellers rises.
b. rises, and the price received by sellers falls.
c. falls, and the price received by sellers rises.
d. falls, and the price received by sellers falls.
b
Economics
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If the price of a video download is below its equilibrium price, the quantity supplied is ________ than the quantity demanded
If the price of a video download is above its equilibrium price, the quantity supplied is ________ than the quantity demanded. A) less; greater B) greater; less C) less; less D) greater; greater
Economics
A perfectly competitive firm in long-run equilibrium produces output at the lowest possible average total cost
Indicate whether the statement is true or false
Economics