ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An American ban on ethanol from all producers
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An excise tax placed by government on ethanol use
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The removal of subsidies from the government to all American ethanol producers
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A trade agreement with Brazil opening U.S. markets to imported ethanol
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Detailed explanation-1: -An increase in the number of sellers supplying a good or service shifts the supply curve to the right; a reduction in the number of sellers shifts the supply curve to the left.
Detailed explanation-2: -When considering factors that shift supply curves, which of the following will increase supply? Favorable natural conditions for production will increase supply because firms are able to produce more with the available resources.
Detailed explanation-3: -An increase in the number of sellers increases the quantity supplied at each price. The supply curve shifts to the right. An decrease in the number of sellers decreases the quantity supplied at each price.
Detailed explanation-4: -when a supply curve shifts to the right, it indicates that supply has increased due to one of the eight possible factors. when supply has shifts to the left, it indicates that the supply has decreased.