The Burden of a Specific Sales Tax Falls Entirely on the Consumer

question 22

Multiple Choice

The burden of a specific sales tax falls entirely on the consumer when the

• A) elasticity of supply is zero.
• B) demand curve is perfectly elastic.
• C) price elasticity of demand is greater than the elasticity of supply.
• D) price elasticity of demand is zero.

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Definitions:

Decision Making

The intellectual activity involved in deciding on an action from a set of different choices.

Good Leaders

Effective individuals who inspire, motivate, and guide others toward achieving collective goals, often demonstrating strong communication, vision, and empathy.

Good Followers

Individuals who support leaders with loyalty, engagement, and constructive feedback, effectively contributing to the team's or organization's success.

Self-Management

The ability of an individual to manage their personal activities and behaviors in an effective manner without external control.