A unit tax of $1 has been levied on a good. The equilibrium price of the good will most likely A. remain unchanged. B. decrease by $1. C. increase by an amount less than $1. D. increase by $1.

C. increase by an amount less than $1.

Explanation:

Tax imposition leads to increase in equillibrum price. When taxes are increased it result in a shift to the left of supply, that means supply reduces. Shift is from S1 to S2.

Equillibrum changes from M to M1.

Tax is represented by PA to PC, and this is greater than the change in equillibrum price (PA to PB).

So in this instance if the tax imposed is $1, there will be an increase in equillibrum price that will be less than $1.

Find attached the diagram used to illustrate effect of tax on equillibrum price.

if i need to borrow money for anything, it would be for something like a house or an apartment but, that depend on the situation.

is this good enough?

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know