If the Supply of a Good Is Perfectly Inelastic, Then

question 11

Multiple Choice

If the supply of a good is perfectly inelastic, then suppliers will bear the full burden of an excise tax

• A)no matter how elastic the demand for the good is.
• B)only if demand is perfectly elastic.
• C)only if demand is perfectly inelastic.
• D)only if the government forbids them to raise the price of the good.

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Definitions:

Desegregation

The process of eliminating segregation, integrating previously separated racial or ethnic groups within schools, workplaces, or public facilities.

Norm Group

A reference group used in psychological testing or research to standardize scores and compare individual test results.

Norm-Referenced Tests

Norm-referenced tests are assessments designed to compare the performance of a test-taker to a group of peers, highlighting where an individual stands in relation to others.

Relative Position

Refers to the location or ranking of a value in relation to other values within a data set.