Which of the Following Leads to the Suppliers Paying All

question 285

Multiple Choice

Which of the following leads to the suppliers paying all of a tax?

• A) The supply is perfectly elastic.
• B) The supply is perfectly inelastic.
• C) The demand is unit elastic.
• D) The demand is perfectly inelastic.

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Definitions:

Uniform Electronic Commerce Act

Legislation designed to facilitate and govern electronic transactions by ensuring that contracts entered electronically are legally binding.

Online Contracts

Legally binding agreements created and signed in a digital format, often involving transactions or services facilitated over the internet.

Instantaneous Communication

The exchange of information that occurs immediately without noticeable delay.

Quantum Meruit

A legal principle allowing one to recover reasonable value of services rendered when no contract exists or when a contract is unenforceable.