For a Given Elasticity of Demand, the Less Elastic the Supply

question 49

Multiple Choice

For a given elasticity of demand, the less elastic the supply, the

• A) larger the deadweight loss from a tax.
• B) greater the burden on the government from a tax.
• C) larger the share of a tax paid by the buyers.
• D) greater is the excess burden from a tax.
• E) larger the share of a tax paid by the sellers.

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Definitions:

Elemental Symbol

A one- or two-letter abbreviation used to represent an element on the periodic table, based on its English or Latin name.

Ag

The symbol for Silver, a chemical element with valuable electrical conductivity, thermal conductivity, and reflectivity properties.

Silver

A precious metal with the chemical symbol Ag and atomic number 47, known for its high conductivity, malleability, and antibacterial properties.

Selenium

a chemical element with symbol Se and atomic number 34, known for its role in antioxidant enzymes and its toxicity in large amounts.