Answer:
<u>the supply curve</u>
Explanation:
Remember the supply curve shows the relationship between the amount of a commodity that a producer (or orange farmer) is <em>willing </em>to offer and at a particular price at any given time.
Because of the subsidies to orange farmers we expect the price of orange to become lesser in the future. Therefore the rightward shift occurs in supply curve for oranges due to favorable changes such as the new legislation which may lead to:
- Reduction in tax,
- Reduction in cost of factor of production,
- Expectation of fall in price in future,
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Explanation:
Answer:
The answer is: the equilibrium quantity is larger than the socially optimal quantity.
Explanation:
In order for the equilibrium quantity and the socially optimal quantity to be equal, the government subsidy should have been equal to the positive externality created by the flu shots ($8). Since the government subsidy is larger, $11, then the equilibrium quantity will be higher (more flu shots supplied because of high subsidy).
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