If the Demand Curve Is Very Inelastic and the Supply

question 300

True/False

If the demand curve is very inelastic and the supply curve is very elastic in a market, then the sellers will bear a greater burden of a tax imposed on the market, even if the tax is imposed on the buyers.

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Definitions:

Entrepreneurship

The act of creating, developing, and managing a business venture along with its financial risks in order to profit and innovate within the market.

Quickly Sense

The ability to rapidly perceive or deduce information from a given situation or environment.

Self-punishment

The act of inflicting punishment on oneself as a response to feelings of guilt or failure.

Self-cueing

A technique where individuals prompt themselves to remember or perform tasks, enhancing personal productivity or behavior modification.