If the Supply of a Product Is Perfectly Elastic and Demand

question 251

Multiple Choice

If the supply of a product is perfectly elastic and demand is downsloping, an excise tax of $2 per unit will increase price by

• A)more than $2.
• B)less than $2.
• C)$2 and increase equilibrium output.
• D)$2 and reduce equilibrium output.

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Definitions:

Goal Setting Theory

A process theory that states that goals are motivational when they are specific and challenging, when organizational members are committed to them, and when feedback about progress toward goal attainment is provided.

ADHD

Attention-Deficit/Hyperactivity Disorder (ADHD) is a neurodevelopmental disorder characterized by problems paying attention, hyperactivity, or impulsiveness that are not appropriate for a person's age.

Inattention

The lack of focus or concentration on a specific task or environment, often noted in various psychological diagnoses.

Hyperactivity

A condition characterized by overly active behavior that can include excessive talking, fidgeting, or difficulty remaining still and focused.