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 decreases. multiple choice 1 It will not change. It will decrease. It will increase.
b. An excise tax of $3 is imposed on good X. multiple choice 2 It will decrease. It will not change. It will increase.
c. An ad valorem tax of 7 percent is imposed on good X.
i. It will not change.
ii It will increase.
iii It will decrease.
d. A technological change reduces the cost of producing additional units of good X.
i. It will decrease.
ii It will not change.
ii It will increase.

Sean lives in dallas and runs a business that sells boats. in an average year, he receives $722,000 from selling boats. of this sales revenue, he must pay the manufacturer a wholesale cost of $422,000; he also pays wages and utility bills totaling $268,000. he owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. assume that the value of this showroom does not depreciate over the year. also, if sean does not operate this boat business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. no other costs are incurred in running this boat business.identify each of sean's costs in the following table as either an implicit cost or an explicit cost of selling boats.implicit costexplicit costthe wages and utility bills that sean pays the rental income sean could receive if he chose to rent out his showroom the salary sean could earn if he worked as a paralegal the wholesale cost for the boats that sean pays the