ECO-4 Lecture Notes - Lecture 16: Productive Efficiency, Allocative Efficiency, Economic Equilibrium
11 views2 pages
Get access
Grade+
$40 USD/m
Billed monthly
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
10 Verified Answers
Class+
$30 USD/m
Billed monthly
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
7 Verified Answers
Related textbook solutions
Related Documents
Related Questions
Identify four shift factors of supply with the correct explanation of how each affects supply.
Instructions: To receive full credit, you must make a selection for each option. For the correct answer(s), click the box once to place a checkmark. For the incorrect answer(s), click twice to empty the box.
Producers expect prices of their products to change in the future. As the price that producers expect to sell their products for increases, supply decreases. | |
Income declines. As income rises, supply increases. | |
Reduction in taxes paid by consumers. As taxes rise, supply falls. | |
The price of inputs changes. As the price of inputs rises, supply decreases. | |
When new production technologies have introduced the cost of production falls and supply increases. | |
Change in taxes paid by producers. As the amount of taxes that producers pay increases, supply decreases. | |
Change in consumer tastes. As the taste for a product rises, supply increases. |