The vertical distance of the shift in supply from a specific tax ...

[michelleunicorn]

The vertical distance of the shift in supply from a specific tax of t amount on producers will
 
  A) equal t.
  B) be less than t.
  C) depend on the elasticity of supply.
  D) depend on the incidence of the tax.

Question 2

Lisa runs a local flower shop. If it rains on Valentine's Day and she opens the shop, she will lose 200. If it does not rain on Valentine's Day, she will earn 500 dollars as profits.
 
  What is Lisa's expected profit on Valentine's Day if she only knows that there is a 30 chance of rain that day? A) 350
  B) 290
  C) 200
  D) 150

[asdfasdf]

Answer to Question 1

A

Answer to Question 2

B