For a Given Elasticity of Supply,the More ________ the Demand

question 155

Multiple Choice

For a given elasticity of supply,the more ________ the demand for the good,the share of the tax paid by the buyers is ________.

• A) inelastic; larger
• B) inelastic; smaller
• C) elastic; larger
• D) elastic; smaller
• E) elastic; the same

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Definitions:

Disaffirmed

The act of denying, rejecting, or declaring a contract or agreement void, especially in legal contexts involving minors or parties lacking capacity.

Minor

A person who is below the age of majority, legally considered not old enough to take responsibility for legal decisions.

Mental Impairment

A condition that limits a person's intellectual functioning or emotional wellbeing.

Void

A term describing a contract or legal agreement that has no legal force or effect, making it unenforceable by law.