The Imposition of an Excise Tax Will Cause the Least

question 34

Multiple Choice

The imposition of an excise tax will cause the least burden on consumers when demand is

• A)elastic.
• B)unit elastic.
• C)perfectly inelastic.
• D)perfectly elastic.
• E)vertical.

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Definitions:

Convention on Contracts

A framework of rules designed to facilitate international trade by establishing uniform legal standards for contracts.

International Sale of Goods

Transactions involving the cross-border purchase and sale of goods, governed by conventions like the United Nations Convention on Contracts for the International Sale of Goods (CISG).

Unconscionable

Describes an agreement so unfair or unjust that it shocks the conscience, often deemed unenforceable by courts.

Resale of Goods

The act of selling an item that has already been purchased, typically referring to the sale of goods by businesses to consumers.