Suppose the Equilibrium Price of Organic Almond Butter Is $10

question 141

Multiple Choice

Suppose the equilibrium price of organic almond butter is $10 a jar. At that price, quantity of almond butter demanded and supplied is 100,000. If a $6 tax per jar paid by suppliers increases the equilibrium price to $14 per jar and reduces the equilibrium quantity sold to 90,000:

• A) suppliers pay a greater portion of the tax because they are more price elastic.
• B) consumers pay a greater portion of the tax because they are less price elastic.
• C) suppliers pay a greater portion of the tax because the tax is levied on them.
• D) suppliers pay a greater portion of the tax because they are less price elastic.

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Definitions:

Netherlandish Art

Art originating from the Netherlands, especially during the 15th and 16th centuries, known for its detailed realism and innovative use of oil paint.

Painting Style

The distinctive methods, techniques, and aesthetics used by an artist or within an art movement.

Mannerism

A style of later Renaissance art that emphasized “artifice,” often involving contrived imagery not derived directly from nature. Such artworks showed a self-conscious stylization involving complexity, caprice, fantasy, and polish. Mannerist architecture tended to flout the classical rules of order, stability, and symmetry, sometimes to the point of parody.

Artist's Hand

Refers to the unique techniques, style, and influence an artist applies to their work, making their creations distinguishable and personal.