Suppose the Demand for Peaches from South Carolina Is Perfectly

question 76

Multiple Choice

Suppose the demand for peaches from South Carolina is perfectly elastic.If the supply curve is upward sloping and a tax is imposed on peaches from South Carolina,then

• A) peach sellers pay all of the tax.
• B) peach buyers pay all of the tax.
• C) peach buyers and sellers evenly split the tax.
• D) the government does not collect any revenue from the tax.
• E) the tax does not change the equilibrium quantity of peaches.

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Definitions:

Brand Loyalty

A consumer’s steadfast allegiance to a brand, as evidenced by repeated purchases.

Customer Orientation

A business strategy that focuses on creating a positive experience for customers, emphasizing their needs and satisfaction.

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A performance rating that indicates an individual or work has surpassed the set standards or goals.

Retain Customers

Strategies and practices aimed at keeping existing customers engaged and continuing to purchase products or services.