Suppose That the Supply of Insulin Is Perfectly Elastic and the Demand

question 183

Multiple Choice

Suppose that the supply of insulin is perfectly elastic and the demand for insulin perfectly inelastic. Then the result of an excise tax would be

• A)a significant increase in government revenue and a significant decrease in the quantity consumed.
• B)a significant decrease in the quantity consumed with no change in government revenue.
• C)a significant increase in government revenue and no change in the quantity consumed.
• D)no increase in government revenue and no change in the quantity consumed.

---

Definitions:

Spiritual Food

Metaphorical nourishment that sustains one's spiritual life or well-being, often associated with religious rituals, prayers, or meditations.

Juan Sánchez Cotán

A Spanish painter renowned for his highly realistic still life paintings, often characterized by a deep exploration of light and form.

Iglesia La Compañía de Jesús

A notable Jesuit church in Quito, Ecuador, renowned for its lavish baroque interior and use of gold leaf.

Cuzco

A city in southeastern Peru, near the Urubamba Valley of the Andes mountain range; it was the historic capital of the Inca Empire.