Refer to Figure 2-4. A movement from X to Y
A) is the result of advancements in plastic production technology only, with no change in food production technology.
B) could be due to a change in consumers' tastes and preferences.
C) is the result of advancements in food production technology only, with no change in the technology for plastic production.
D) could occur because of an influx of immigrant labor.
Question 2
Suppose the demand curve for a product is downward sloping and the supply curve is upward sloping. If a unit tax is imposed in the market for this product,
A) sellers bear the entire burden of the tax.
B) the tax burden will be shared among the government, buyers and sellers.
C) the tax burden will be shared by buyers and sellers.
D) buyers bear the entire burden of the tax.
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