Examlex
Shantae is doing an experiment on how anxious people will feel if they are told that they did not do well on an intelligence test. She asks her participants to rate how nervous, upset, and anxious they feel on a scale from 1 (not at all) to 7 (very) . Participant's scores on the scale are a(n)
Demand
It represents the quantity of a good or service that consumers are willing and able to purchase at various prices.
Supply
The total amount of a product or service that is available to consumers.
Elastic
Describes a situation where the demand for a good or service significantly changes in response to a change in price.
Optimal Tax
A taxation principle aiming to maximize economic efficiency without imposing undue burdens or distortions.
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