The Decrease in the Number of Sellers of a Good

question 199

Multiple Choice

The decrease in the number of sellers of a good would

• A)move its supply curve to the right.
• B)move its supply curve to the left.
• C)cause a movement along the supply curve to a (higher price, higher quantity)point.
• D)cause a movement along the supply curve to a (lower price, lower quantity)point.

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Definitions:

Single

A filing status for a taxpayer who is unmarried and does not qualify for other filing statuses like Head of Household.

Failure To File Penalty

A penalty imposed by tax authorities for not filing a required tax return by the due date.

Tax Liability

The total amount of tax that an individual or entity is legally obligated to pay to a taxing authority.

Remaining Tax

The portion of tax liability that remains unpaid after all payments and credits have been applied, effectively the balance due.