If the Elasticity of Supply Is 1, and the Elasticity

question 65

Multiple Choice

If the elasticity of supply is 1, and the elasticity of demand is 3(in absolute value) , then for a tax of $1 buyers will pay:

• A)an extra 25 cents and sellers will receive 75 cents less.(True Answer )Correct
• B)an extra 75 cents and sellers will receive 25 cents less.
• C)an extra 50 cents and sellers will receive 50 cents less.
• D)nothing extra since this is the special case where demand is unit elastic.

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Definitions:

Testosterone

A steroid hormone produced primarily in the testes of males and the ovaries of females, playing key roles in male sexual development and both genders’ muscle and bone health.

Range of Motion

The maximal potential for movement of a joint, generally described by its range of bending and stretching.

Sarcopenia

A condition characterized by loss of skeletal muscle mass and strength, often associated with aging.

Hypertrophy

The enlargement of an organ or tissue from the increase in the size of its cells, often related to physical exercise.