The Greater the Elasticity of Supply of and Demand for a Good

question 264

Multiple Choice

The greater the elasticity of supply of and demand for a good, the

• A)smaller will be the efficiency loss of an excise tax on the good.
• B)more likely the good will be a public good rather than a private good.
• C)larger will be the efficiency loss of an excise tax on the good.
• D)larger will be the proportion of an excise tax on the good that will be shifted forward to consumers.

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Definitions:

Vulnerable

A status indicating that a species is at high risk of endangerment in the wild, often used in conservation contexts to prioritize efforts.

Keystone Species

A species that has a disproportionately large effect on its environment relative to its abundance.

Other Forms

This term is too vague without context, so a specific definition cannot be provided. NO.

Extinction

The permanent loss of a species or taxonomic group of organisms from the Earth, typically as a result of human activity, natural disasters, or changes in the environment.