If a Tax Is Imposed on a Market with Elastic

question 108

Multiple Choice

If a tax is imposed on a market with elastic demand and inelastic supply,

• A)buyers will bear most of the burden of the tax.
• B)sellers will bear most of the burden of the tax.
• C)the burden of the tax will be shared equally between buyers and sellers.
• D)it is impossible to determine how the burden of the tax will be shared.

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Definitions:

Ileum

The third and final section of the small intestine, where the absorption of nutrients and minerals mainly occurs.

Very Liquid Stool

Diarrhea, a condition in which feces are discharged from the bowels frequently and in a liquid form.

Sigmoid

Refers to the S-shaped section of the large intestine that connects the descending colon to the rectum.

Ascending

Moving upward or advancing to higher levels or positions.