If the Supply of a Good Is Perfectly Inelastic, Then

question 11

Multiple Choice

If the supply of a good is perfectly inelastic, then suppliers will bear the full burden of an excise tax

• A)no matter how elastic the demand for the good is.
• B)only if demand is perfectly elastic.
• C)only if demand is perfectly inelastic.
• D)only if the government forbids them to raise the price of the good.

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Definitions:

Influence Outcome

The result of actions or strategies designed to affect the decisions, behaviors, or perceptions of others within an organizational or social context.

Commitment

The state or quality of being dedicated to a cause, activity, or job; wholehearted dedication.

Influence Others

The ability to affect or change how other people think, feel, or act through persuasion, leadership, or example.

Organization's Shares

Units of ownership in a company that represent a claim on the company's assets and earnings.