Asked by
manny duron
on Oct 09, 2024
Verified
A government tax per unit of output reduces supply.
Government Tax
A compulsory financial charge imposed by a government on individuals, businesses, or goods to fund public services and infrastructure.
Supply
A schedule or curve that shows the various amounts of a product that producers are willing and able to make available for sale at each of a series of possible prices during a specified period of time.
- Examine the effects that government actions like taxes and subsidies have on the balance between market supply and equilibrium.
Verified Answer
BS
Learning Objectives
- Examine the effects that government actions like taxes and subsidies have on the balance between market supply and equilibrium.
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