Which curve shifts and in which direction when the following events occur in the tax accounting market?a. "It is almost tax day (April 15)!"O Neither curve changes.O Supply decreases.O Supply increases.O Demand decreases.Demand increases.b. A new software is developed that helps individuals file their taxes on their own.O Supply decreases.O Supply increases.Demand decreases.O Demand increases.O Neither curve changes. c. There is a change in the law and tax accountants now need only one year of training to prepare taxes.O Demand increases.Supply increases.Supply decreases.O Neither curve changes.O Demand decreases.

Answered: Which curve shifts and in which…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which curve shifts and in which direction when the following events occur in the tax accounting market?
a. "It is almost tax day (April 15)!"
O Neither curve changes.
O Supply decreases.
O Supply increases.
O Demand decreases.
Demand increases.
b. A new software is developed that helps individuals file their taxes on their own.
O Supply decreases.
O Supply increases.
Demand decreases.
O Demand increases.
O Neither curve changes.

c. There is a change in the law and tax accountants now need only one year of training to prepare taxes.
O Demand increases.
Supply increases.
Supply decreases.
O Neither curve changes.
O Demand decreases.

Expert Solution

Step 1

a) Answer:- Demand increases.

Explanation:- On tax day, ever more individual are going to look to really get their taxes accomplished, increasing the demand for tax accountant which will cause rightward shift in the demand curve.

Therefore, option e is correct.

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