If a Tax Is Imposed on a Market with Inelastic

question 50

Multiple Choice

If a tax is imposed on a market with inelastic demand,how is the burden of the tax distributed

• A)Buyers will bear most of the burden of the tax if the supply is elastic.
• B)Sellers will bear most of the burden of the tax if the supply is elastic.
• C)Buyers will bear most of the burden of the tax if the supply is inelastic.
• D)Sellers will bear most of the burden of the tax if the supply is inelastic.

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Definitions:

Wertheimer

A surname that may refer to various individuals, often requiring additional context to identify a specific person or their contribution.

Microallocation

The distribution of limited healthcare resources to specific individuals based on certain criteria, often within a smaller, more immediate context.

Commercial Organ Procurement

The practice of buying and selling organs for transplantation, often criticized for ethical concerns, including exploitation and inequity in access to transplant surgeries.

Human Dignity

The inherent worth of all individuals, demanding respect and ethical treatment in all circumstances.