Suppose Elasticity of Demand Is 0

question 96

Multiple Choice

Suppose elasticity of demand is 0.2, elasticity of supply is 0.7, and a 10 percent excise tax is levied on producers. Which of the following changes will reduce the share of the tax paid by consumers?

• A) Elasticity of supply falls to 0.3.
• B) Elasticity of demand falls to 0.1.
• C) The tax is increased to 20 percent.
• D) Nothing will change the burden of the tax.

Understand how specific and challenging goals affect commitment and motivation.

Acquire knowledge on the application and effectiveness of expectancy theory in improving workplace motivation.

Learn the basic terminology and mechanisms of expectancy theory.

Understand goal-setting strategies, including breakdown of long-term goals into short-term objectives.

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Definitions:

Employment

The condition of having paid work or the relationship between an employee and employer where the former performs tasks in exchange for compensation.

Hiring Decisions

The process of evaluating candidates and selecting individuals for employment in an organization.

Environmental Influences

Factors in one's surroundings that impact their development, behavior, and survival.

Adopted Children

Children who are legally taken into a family that is not their birth family and are raised as a member of that family.