Asks Tagged ‘supply’

The supply curve for a product has infinite elasticity. a tax is levied on each unit of the product the likely?

6. the supply curve for a product has infinite elasticity. a tax is levied on each unit of the product the likely effect will be to:A.reduce the amount the producer receives from each unit sold by the amount of the tax.B. Increase the price the consumer pays per unit by the amount of the taxC. […]

Aggregate Supply and Demand scenarios?

I’ve been stuck on an essay question for quite a while now. I have to describe the shift in either the AD or AS curves for the following scenarios:a. A recession deepens while the rate of inflation increases.b. The price level rises sharply while real output and employment remains constant.c. The rate of inflation decreases, […]

Factors that cause changes in supply or demand for a product?

Have to write an essay about it please help.