What Will Result from an Increase in Resource Costs to Firms

question 47

Multiple Choice

What will result from an increase in resource costs to firms in a market

• A)a decrease in equilibrium price and an increase in equilibrium quantity
• B)a decrease in equilibrium price and a decrease in equilibrium quantity
• C)an increase in equilibrium price and no change in equilibrium quantity
• D)an increase in equilibrium price and an decrease in equilibrium quantity

Describe the concept of immanent justice and its significance in moral development.

Explain the role of rules and their interpretation in the development of moral reasoning.

Understand the critique of moral development theories and the importance of individual perspectives in moral reasoning.

Identify effective strategies for enhancing a child's moral development.

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Definitions:

Tax Revenue

The financial returns that governments earn from taxes.

Tax

An essential monetary obligation or different kind of dues enforced on a taxpayer by a governmental institution for the purpose of funding state expenses and a variety of public outgoings.

Good

In economics, a good is a material that satisfies human wants and provides utility, for example, to a consumer making a purchase of a satisfying product.

Equilibrium Price

The market price where the quantity of goods supplied is equal to the quantity of goods demanded, leading to market balance.