Which of the Following Statements Is TRUE

question 90

Multiple Choice

Which of the following statements is TRUE?

• A) When demand is elastic, buyers pay little of the tax because buyers can choose from many substitutes.
• B) When demand is elastic, sellers pay little of the tax because buyers can choose from many substitutes.
• C) A perfectly inelastic supply curve means that sellers will pay none of the tax.
• D) A perfectly inelastic demand curve means that buyers will pay none of the tax.

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Definitions:

Corporate Partners

Businesses or organizations that engage in a collaborative relationship to achieve common goals, share resources, or enhance each other's brands.

Demographic Profiles

Detailed descriptions of a target market based on demographic factors such as age, gender, income, education, and occupation.

Target Market

Refers to a specific group of consumers at whom a company aims its products and services.

Ability to Purchase

An individual's or entity's financial capacity to buy goods and services, determined by income and creditworthiness.