Question: Good X is produced in a competitive market using input A . Explain what would happen to the supply of good X in each of
Good X is produced in a competitive market using input A Explain what would happen to the supply of good X in each of the following situations:
A The price of input A decreasesB A subsidy of $ is given to the producers of good X
C A previously imposed valorem tax on good X is reduced by
D A technological change increases the cost of producing additional units of good X
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