A Good with a ________ Supply Generates No Deadweight Loss

question 137

Multiple Choice

A good with a ________ supply generates no deadweight loss when taxed.

• A) perfectly elastic
• B) perfectly inelastic
• C) somewhat elastic
• D) somewhat inelastic
• E) slowly increasing

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Definitions:

Government in the Sunshine Act

A U.S. law aimed at ensuring that agencies conduct their meetings in public, promoting transparency.

Public Observation

The act of watching, monitoring, or scrutinizing activities, processes, or events by the general public, often for oversight or interest purposes.

Administrative Inspections

Routine examinations or checks conducted by governmental agencies to ensure compliance with laws, regulations, and standards.

Fourth Amendment

An amendment to the U.S. Constitution protecting individuals against unreasonable searches and seizures by the government.