A tariff will decrease the quantity supplied of a good

A buyer values a house at $525,000 and a seller values the same house at $485,000 . If sales tax is 8% and is levied on the seller, then what would be the lowest price that the seller would be willing to sell at?

a. $527,000 b. $523,800 c. $525,000 d. $500,000

Technological innovation is not subject to diminishing marginal returns because: a. it can be used by workers across the economy at a low marginal cost

b. it can result in a rightward shift of the aggregate production function of an economy. c. it can result in a rightward shift of the production possibilities frontier of an economy. d. it can be used by skilled as well as unskilled workers across the economy.