Supply and Demand

Access to easily substitutable inputs for production.

Increased government regulation restricting production methods.

Hostile market conditions creating uncertainty over future prices.

Abundance of fixed capital required for production that cannot be quickly adapted.

There's no change in either demand or supply because all manufacturing plants pass on these taxes directly without altering their production behavior or pricing strategies.

The supply curve shifts rightward since companies become more efficient in order to offset tax expenses, leading to increased production at every price point.

The supply curve shifts leftward indicating reduced supply at each price point leading to higher prices for consumers if demand stays stable.

The demand curve shifts rightward as consumers prefer products from environmentally conscious companies paying such taxes.

The market supply curve will remain unchanged.

The market supply curve will shift to the right.

The market supply curve will become more elastic.

The market supply curve will shift to the left.

Perfect competition

Monopolistic competition

Oligopoly

Monopoly

Unemployment levels may rise due to excess labor supply (quantity supplied greater than quantity demanded).

Employers hire more workers since they value work at this legally mandated rate more highly now than before.

All workers receive higher wages without any negative side effects on employment levels.

There's an immediate increase in both demand for and supply of labor, leaving unemployment unchanged.

Average variable cost

Marginal cost

Total revenue

Fixed cost

Price elasticity

Total utility

Average cost

Marginal analysis

An increase in the cost of resources.

Technological advancements.

Expectations of a boom in the market.

A decrease in taxes on the good.

A lighthouse illustrates how governments can monopolize certain markets even when provision by competitive firms would be more efficient.

It showcases how natural monopolies form around certain goods requiring significant infrastructure investment from private providers seeking return on investment through high prices and limited supply.

It represents how excludable but rival goods can efficiently be provided through user fees or tolls imposed by private market solutions.

It demonstrates both non-excludability and non-rivalry in consumption, showing why such goods may be underprovided if left solely to private markets due to free-rider problems.

The total fixed costs divided by quantity produced

The marginal benefit versus the marginal cost of production

The sunk costs incurred from past production investments

The average consumer demand over time for their product