Matilda Is Seventy Years Old and in Good Health, with No

question 126

Multiple Choice

Matilda is seventy years old and in good health, with no signs of dementia or Alzheimer's disease. Matilda is most likely to experience some difficulties remembering

• A)the name of her next-door neighbor.
• B)what she had for lunch yesterday.
• C)her phone number.
• D)the recipe for her famous homemade brownies.

---

Definitions:

Perfectly Inelastic

A market condition where the quantity demanded or supplied does not change in response to price changes.

Deadweight Loss

An economic inefficiency that occurs when the total welfare in a market is not maximized, resulting from distortions such as taxes, subsidies, or monopolies.

Excise Tax

A tax imposed on specific goods, services, or activities, often included in the price of products like tobacco, alcohol, and fuel, designed to discourage their use or generate revenue.

Perfectly Inelastic

A market condition where demand does not change regardless of changes in price.