A Tax Is Imposed on a Market with Elastic Demand

question 94

Multiple Choice

A tax is imposed on a market with elastic demand and inelastic supply.Who bears most of the burden of the tax

• 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)The burden of the tax will be shared equally between buyers and the government.

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Definitions:

Control Circuit Rung

A section or level within a control circuit diagram, often represented as horizontal lines that show the flow of electrical control signals.

Reversing Motor Starter

A device that allows the control of an electric motor's direction of rotation, enabling it to run both forward and backward.

Contactors

Electromechanical switches used in electrical circuits to control the flow of power to devices, typically operated by an electromagnetic coil.

Control Coils

Electromagnetic coils used within devices like relays and contactors to control the opening and closing of circuits.