If There Is No Change in Equilibrium Price After a $1

question 2

True/False

If there is no change in equilibrium price after a $1 per unit tax is imposed on suppliers, demand must be perfectly inelastic.

---

Definitions:

Transcendentalism

A philosophical movement that emerged in the 1830s in the United States, emphasizing intuition, spirituality, and the inherent goodness of nature and humanity.

Second Great Awakening

A Protestant religious revival during the early 19th century in the United States, which led to the growth of evangelical denominations and sparked social reforms.

Market Revolution

A significant change in the U.S. economy in the early 19th century, driven by innovations in transportation, communication, and production that created a more interconnected market system.

Internal Borderland

A term used to describe areas within a country that lie on the margins of cultural, economic, or political power, often fostering unique identities or conflicts.