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SVEN [57.7K]
2 years ago
5

Taxes are costly to market participants because they

Business
1 answer:
snow_lady [41]2 years ago
5 0

Considering the available options, Taxes are costly to market participants because <u>All of the above is correct</u>.

This is evident in that taxes are costly to market participants because they "transfer resources from market participants to the government."

The resources here are capital resources which come in the form of money.

Also, taxes are costly to market participants as it alters the incentives to buy or conduct business.

Again, taxes are costly to market participants because they alter or affect the market outcomes.

Hence, in this case, it is concluded that the correct answer is option D. "All of the above is correct."

Learn more here: brainly.com/question/19374874

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Explanation:

A tariff is a form of tax on import or export.

When a tariff is imposed on a good , the price of the good increases.

As a result of the tariff , the amount of the goods imported falls as the imported good is now more expensive. The quantity produced by domestic producers increases as consumers would now start demanding for the domestic good. Tariffs are sometimes enacted to discourage importation and encourage domestic production.

As a result of the price increase, producer surplus increases. The increase in price also increases output. The producer surplus is the difference between the price of a product and the least amount the producer is willing to sell his product.

I hope my answer helps you.

7 0
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If price controls are introduced below the equilibrium price in the market, farmers or sellers will supply less to the market because they will not be incentivized to produce more seeing as they are not making what they should be making.

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