After the United States introduces a tariff in the market for widgets, the price of widgets in the United States will:
a. decrease

Which of the following increases the supply of a good and shifts its supply curve rightward?

A) a smaller number of producers B) an increase in the price of the good C) a higher wage paid to workers in the industry D) a technological advance in how the good is produced E) an increase in the cost of the resources used to produce the good

An important variable that is left out of economic models is

a. implicit costs. b. excess profits. c. entrepreneurship. d. the opportunity cost of resources.