Suppose the Demand for Gasoline Is Inelastic,but Not Perfectly Inelastic,and

question 8

Multiple Choice

Suppose the demand for gasoline is inelastic,but not perfectly inelastic,and the supply is elastic,but not perfectly elastic.A tax on gasoline is paid

• A)mostly by buyers.
• B)mostly by sellers.
• C)equally by buyers and sellers.
• D)totally by buyers.
• E)totally by sellers.

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Definitions:

Homologous Traits

Features in different species that are similar because of a common evolutionary origin, not necessarily similar in function.

Common Ancestor

The common ancestor refers to an ancestral species or population from which two or more species have evolved, highlighting the concept of evolution and shared lineage.

Extant Cetaceans

Currently living whale, dolphin, and porpoise species that are members of the order Cetacea.