Given the Demand Curve, the More Inelastic the Supply Curve

question 335

Multiple Choice

Given the demand curve, the more inelastic the supply curve, the

• A) more the excise tax incidence is shifted to consumers.
• B) greater is the deadweight loss.
• C) smaller is the deadweight loss.
• D) greater is the increase in price to consumers.

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Definitions:

Visible Minorities

Individuals or groups within a society who are distinguishable from the majority population based on physical or cultural characteristics, often leading to experiences of discrimination or marginalization.

Chilly Climate

A term often used in educational and workplace contexts to describe an environment that is unwelcoming and marginalizes certain groups, making it harder for them to succeed.

Hidden Curriculum

The lessons, values, and perspectives that are not explicitly taught but are learned by students through their experiences and interactions in school.

Correspondence Principle

In sociology, the principle suggesting that the structure of educational systems reflects the structure of the labor market and the social class system.