As Long as the Supply Curve for a Good Is

question 157

Multiple Choice

As long as the supply curve for a good is upward sloping and the demand curve is downward sloping, a sales tax imposed on sellers shifts the supply curve

• A) leftward and definitely raises the equilibrium price.
• B) leftward and possibly raises the equilibrium price.
• C) rightward and possibly increases the equilibrium quantity.
• D) rightward and definitely decreases the equilibrium quantity.

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Definitions:

The Toyota Way

A set of principles and behaviors that underlie the Toyota Motor Corporation's managerial approach and production system.

Kaizen

A Japanese philosophy that focuses on continuous improvement in all aspects of life, including the workplace.

Genchi Genbutsu

A Japanese phrase meaning 'go and see for yourself', used in business to emphasize the importance of understanding a situation firsthand.

Empower People

A principle aimed at giving individuals the tools, resources, and authority to make decisions and contribute to their organization or community.