adandrews37 adandrews37

15-07-2024
Business

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2.2.4 Quiz: Factors that Influence Supply and Demand

Question 1 of 10

Which outcome is the most likely result of the government lowering taxes on a particular good?

A. Demand for the good will decrease.
B. Supply of the good will decrease.
C. Supply of the good will increase.
D. Demand for the good will remain the same.

Answer :

GinnyAnswer GinnyAnswer

15-07-2024

Final answer:

Lowering taxes on a good typically results in an increase in the supply of that good, driving producers to offer more in the market.

Explanation:

The most likely result of the government lowering taxes on a particular good is that the Supply of the good will increase. Lowering taxes can incentivize producers to supply more of the good.

For example, if the government lowers taxes on electric vehicles, this could lead to an increase in the supply of electric cars as manufacturers find it more profitable to produce and sell them.

Learn more about Effects of lowering taxes on supply here:

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