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:

730 Nm

A wavelength of light in the near-infrared spectrum, often used in photosynthesis research or medical therapies.

Methyl Salicylate

An organic ester naturally produced by many plants and used as a fragrance, flavoring agent, and in pain relief medications.

Jasmonates

Plant hormones that play a pivotal role in stress responses, growth, and developmental processes, including fruit ripening and leaf senescence.

Systemin

A plant peptide hormone involved in defense responses, signaling systemic responses to local damage or attack.