When Will Buyers of a Product Pay the Majority of a Tax

question 29

Multiple Choice

When will buyers of a product pay the majority of a tax placed on a product

• A)when the tax is placed on the seller of the product
• B)when demand is more elastic than supply
• C)when supply is more elastic than demand
• D)when the tax is placed on the buyer of the product

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Definitions:

Hormones

Chemical substances produced in the body that regulate and control the activity of certain cells or organs, crucial for many bodily functions.

Myelin

A fatty substance that surrounds and insulates the axons of some neurons, facilitating faster electrical impulse transmission.

Dendrites

Extensions of neurons that receive signals from other neurons or sensory receptors, playing a key role in the communication within the brain.

Axons

Long, slender projections of nerve cells that transmit electrical impulses away from the neuron's cell body.