A Decrease in the Number of Sellers in the Market

question 13

Multiple Choice

A decrease in the number of sellers in the market causes

• A)the supply curve to shift to the left.
• B)the supply curve to shift to the right.
• C)a movement up and to the right along a stationary supply curve.
• D)a movement downward and to the left along a stationary supply curve.

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Definitions:

Cash Contributions

Donations or gifts given in the form of physical money, such as banknotes or coins, to charitable organizations or entities.

Written Acknowledgment

A document provided by a charity to a donor confirming a charitable contribution and detailing the value of the contribution and if any goods or services were provided in exchange.

Foreign Taxes

Taxes paid to a foreign government on income earned outside of the taxpayer's country of residence.

Schedule A

An itemized deductions form where taxpayers list eligible expenses to reduce their taxable income, including medical, taxes paid, interest, gifts to charity, and casualty losses.