If the Demand Curve Is Very Elastic and the Supply

question 38

True/False

If the demand curve is very elastic and the supply curve is very inelastic in a market, then the sellers will bear a greater burden of a tax imposed on the market, even if the tax is imposed on the buyers.

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Definitions:

Self-Discipline

The ability to control one's feelings, desires, and actions; actively making decisions and following them through without external pressure or influence.

Religious Freedom

is the principle that supports the freedom of an individual or community to practice any religion they choose, or none at all, without government interference.

Deists

People who believe in deism, a philosophical position that posits the existence of a God or supreme being but denies religion-based revelations, emphasizing reason and the observation of the natural world.

Religious Denominations

Organized groups within a larger faith tradition, each with its own specific practices, doctrines, and identity.