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How can taxes and subsidies effect in supply?
Taxes can decrease the supply when they are raised and increase the supply when they are lowered. Subsidies, on the other hand, can raise the supply when raised and lower the supply when they are lowered.
What category does subsidies excise taxes and regulation belong in economics?
Government's influence on supply is the category that subsidies excise taxes and regulation belong in economics.
What are some determinants of individual supply?
The price of the product, the price of input goods that are used to make it, the state of the industry's technology, government taxes and subsidies and expectations about the future market price of the good.
Name and explain two reasons why changes in supply occur?
There are several ways in which changes in supply occur. They include Technology, Cost of in-puts, productivity, number of sellers in the market, expectations of sellers government taxes or subsidies, government regulation, and production possibilities.
How would the determinants of supply shift the supply curve?
The following will shift the supply curve to the right: cost of resources goes down taxes goes down subsidies goes up government regulations goes down technology/productivity goes up number of sellers goes up future expectations goes down The following will sift the supply curve to the left: cost of resources goes up taxes goes up subsidies goes down government regulations goes up technology/productivity goes down number of sellers goes down future expectations goes up
How can taxes and subsidies effect in supply?
Taxes can decrease the supply when they are raised and increase the supply when they are lowered. Subsidies, on the other hand, can raise the supply when raised and lower the supply when they are lowered.
What category does subsidies excise taxes and regulation belong in economics?
Government's influence on supply is the category that subsidies excise taxes and regulation belong in economics.
Discuss the use of indirect taxes and subsidies by governments to deal with externalities?
discuss the use of indirect taxes and subsidies by governments to deal witn externalities
What are some determinants of individual supply?
The price of the product, the price of input goods that are used to make it, the state of the industry's technology, government taxes and subsidies and expectations about the future market price of the good.
Name and explain two reasons why changes in supply occur?
There are several ways in which changes in supply occur. They include Technology, Cost of in-puts, productivity, number of sellers in the market, expectations of sellers government taxes or subsidies, government regulation, and production possibilities.
How would the determinants of supply shift the supply curve?
The following will shift the supply curve to the right: cost of resources goes down taxes goes down subsidies goes up government regulations goes down technology/productivity goes up number of sellers goes up future expectations goes down The following will sift the supply curve to the left: cost of resources goes up taxes goes up subsidies goes down government regulations goes up technology/productivity goes down number of sellers goes down future expectations goes up
How much does a pound of corn cost?
The point where supply matches demand (assuming that there are no government subsidies, tariffs or taxes which would then have to be taken into consideration).
What are the causes of shifts in the supply curve?
Shifts WITHIN the supply curve are caused by changes in price. However, shifts of the supply curve are determined by the determinants of Supply. 1) Change in resource prices 2) Change in technology 3) Changes in taxes and subsidies 4) Change in prices of other goods 5) Change in expectations 6) Change in number of suppliers.
What factors affect supply and demand curve for wind energy?
Ease of establishment Price of electricity Cost of establishement Grid stability Backup power sources Government subsidies Public acceptance
What are the six main determinants of supply?
1. Number of producers ↑(↓) producers => ↑(↓) supply (S) 2. Resource prices ↑(↓) Resource Price => ↓(↑)S 3. Technology ↑ Technology=> ↑S (technology is assumed to never get worse) 4. Taxes/subsidies ↑(↓) Taxes => ↓(↑)S; ↑(↓) Subsidy =>↑(↓)S 5. Producer expectations (varies) 6. Prices of related goods ↑(↓) Substitute =>↓(↑)S; ↑(↓) Complements => ↑(↓)S
Determinants of supply?
a) Technology, b) Factor Cost, c) Other Goods, d) Taxes and Subsidies, e) Expectations, and f) Number of Sellers. The Micro Economy Today, Seventh edition, Bradley R Schiller (page 53)
Over time certain nonprice factors can shift the entire supply curve for a production List these factors?
Number of sellers, technology, resource prices, taxes/subsidies, expectations of producers, and the prices of other goods the firm could produce
