If a Tax Is Levied on the Sellers of a Product,then

question 49

Multiple Choice

If a tax is levied on the sellers of a product,then there will be a(n)

• A)downward shift of the supply curve.
• B)upward shift of the supply curve.
• C)decrease in quantity supplied.
• D)increase in quantity supplied.

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Definitions:

Apparent Authority

The appearance or assumption of authority given to an agent, employee, or representative by the actions or statements of the principal, leading third parties to believe the agent has such authority.

Actual Authority

The express and implied powers given to an agent by a principal, allowing the agent to act on behalf of the principal.

Conduct

The manner in which a person behaves, especially in a particular place or situation.

Unauthorized Contract

An agreement made by a person who does not have the legal authority to do so on behalf of a party.