If the Elasticity of Demand Is Low, Then the Introduction

question 40

Multiple Choice

If the elasticity of demand is low, then the introduction of excise taxes implies:

• A)tax revenue generated is low.
• B)tax revenue generated is high.
• C)consumers pay proportionally less than producers.
• D)consumers pay proportionally more than producers.

---

Definitions:

Idle Time

Periods when resources, such as machinery or employees, are available but not in use due to a lack of work or inefficient scheduling.

Kanbans

Signaling systems used in just-in-time (JIT) production processes to regulate the flow of materials between different stages of production.

Andons

Visual feedback systems used in manufacturing to alert about any status changes in production, such as issues or slowdowns.

Visual Workplace

A work environment where information about processes and standards is communicated through visual means to improve understanding and efficiency.