Suppose the Demand for Gasoline Is Inelastic,but Not Perfectly Inelastic,and

question 8

Multiple Choice

Suppose the demand for gasoline is inelastic,but not perfectly inelastic,and the supply is elastic,but not perfectly elastic.A tax on gasoline is paid

• A)mostly by buyers.
• B)mostly by sellers.
• C)equally by buyers and sellers.
• D)totally by buyers.
• E)totally by sellers.

---

Definitions:

Social Cognitive Theory

A theory that suggests learning occurs in a social context with a dynamic and reciprocal interaction of the person, environment, and behavior.

Awareness

The state or ability to perceive, feel, or be conscious of events, objects, or sensory patterns.

Self-Regulation

The ability of an individual or organization to monitor and control their behaviors, actions, or thoughts to achieve certain goals.

Discrepancy

A lack of compatibility or uniformity that leads to a difference between two or more things, such as expectations versus reality.