What would be the effect on the market supply curve from the government imposing a per unit tax on the production of the good?

No change

A shift to the left

A shift to the right

An increase in price

An increase in the quantity supplied

Which of the following characterizes a cartel?

Price discrimination

Price collusion and output quotas

Productive efficiency but allocative inefficiency

A more competitive oligopoly

Persistent normal profit

Which of the following would increase the short-run supply for a business, regardless of market structure?

An income tax on consumers

A transfer payment

A lump-sum production subsidy

A per-unit production subsidy

An excise tax

Country A can produce gadgets at a lower opportunity cost than any other producer of gadgets. As a result, County A must have

a superior gadget making technology

an absolute advantage in gadget production

a comparative advantage in gadget production

a constant opportunity cost associated with gadget production

more factors of production devoted to gadget production than any other country