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A Higher Rate Is Most Likely to Decrease the Amount

question 222

Essay

A higher rate is most likely to decrease the amount of revenue that the government collects from an excise tax if
A.demand and supply are both very elastic.
B.demand is very elastic and supply is very inelastic.
C.demand is very inelastic and supply is very elastic.
D.demand and supply are both very inelastic.

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Definitions:

Field Size

The allocated size or length of data that can be entered or stored in a specific field in a database or form.

Delete

The action of removing an item, such as a file, a piece of data, or a code element, from a system or database.

Decimal Places

The number of digits to the right of the decimal point in a number, which determines the precision of the value.

Decimal Places

The number of digits to the right of the decimal point in a number, specifying its precision.

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