If a Tax Is Imposed on a Good Where Both

question 40

Multiple Choice

If a tax is imposed on a good where both supply and demand are somewhat elastic,but demand is more elastic than supply,the burden of the tax will be borne

• A) by consumers and producers equally.
• B) by consumers alone.
• C) by producers alone.
• D) mostly by consumers but partially by producers.
• E) mostly by producers but partially by consumers.

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Definitions:

Inference Forms

Patterns of reasoning where a conclusion is drawn from premises based on logical principles.

Inference Forms

Patterns or structures of reasoning through which conclusions are drawn from premises based on logical principles.

MP

This term can refer to multiple concepts; as "Member of Parliament", it denotes a representative elected to the legislative body of a country. In a military context, it stands for "Military Police", a branch of the service concerned with enforcing discipline and the law within the armed forces.

Simp

A slang term often used to describe someone who demonstrates excessive sympathy or attention towards someone else, typically someone they are romantically interested in, in a way that is seen as undignified or without reciprocation.