Figure 8-16

question 1

Multiple Choice

Figure 8-16
-Refer to Figure 8-16.Panel (a) and Panel (b) each illustrate a $2 tax placed on a market.In comparison to Panel (b) ,Panel (a) illustrates which of the following statements?

• A)When demand is relatively inelastic,the deadweight loss of a tax is smaller than when demand is relatively elastic.
• B)When demand is relatively elastic,the deadweight loss of a tax is larger than when demand is relatively inelastic.
• C)When supply is relatively inelastic,the deadweight loss of a tax is smaller than when supply is relatively elastic.
• D)When supply is relatively elastic,the deadweight loss of a tax is larger than when supply is relatively inelastic.

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Audience Benefits

The advantages or positive outcomes that a listener or viewer gains from engaging with a piece of content or presentation.

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