Which of the following will cause the supply of a product to decrease? a) governent subsidy for the product b)an increase in consumer' income c) a decrease in the price of the product d)an increase in the excise tax on the product

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
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Chapter5: Elastic And Its Application
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Problem 4PA: A price change causes the quantity demanded of a good to decrease by 30 percent, while the total...
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4.Which of the following will cause the supply of a product to decrease?

a) governent subsidy for the product

b)an increase in consumer' income

c) a decrease in the price of the product

d)an increase in the excise tax on the product

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