If the Following Sentence Is Free of Errors, Choose the Answer

question 5

True/False

If the following sentence is free of errors, choose the answer True. If there are errors in the sentence, choose the answer False and explain how to correct the sentence. As soon as you get your credit card statement, check is for errors.

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Definitions:

Unitary

A property of elasticity where a change in price causes a proportional change in the quantity demanded or supplied, with an elasticity coefficient of 1.

Incidence

Refers to the impact or burden of a tax, how it is distributed among various participants in the market.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity supplied divided by the percentage change in price.

Incidence

The allocation or impact of a tax or policy on the economic activities or welfare of different groups in society.