Suppose That the Elasticity of Demand for Insulin Is 0

question 40

Multiple Choice

Suppose that the elasticity of demand for insulin is 0.1,the elasticity of demand for oranges is 1.2,and the elasticity of supply for insulin and oranges is 0.4.If the government imposes a 10 percent tax on both insulin and oranges,the decrease in the quantity of oranges is ________ the decrease in the quantity of insulin.

• A) larger than
• B) smaller than
• C) equals to
• D) not comparable to
• E) More information is needed to determine how the decrease in the quantity of oranges compares to the decrease in the quantity of insulin.

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Definitions:

Microbiome

The collective genome of the microbes (composed of bacteria, bacteriophage, fungi, protozoa, and viruses) that live inside and on the human body.

Nature And Nurture

A concept in developmental psychology that examines the influence of genetic inheritance (nature) and environmental factors (nurture) on human development.

Deoxyribonucleic Acid

A molecule that carries most of the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Chromosome

A strand-like composition of nucleic acids and protein located in the nucleus of the majority of living cells that bears genetic information in genes.