Suppose That Policymakers Are Considering Placing a Tax on Either

question 1

Multiple Choice

Suppose that policymakers are considering placing a tax on either of two markets.In Market A,the tax will have a significant effect on the price consumers pay,but it will not affect equilibrium quantity very much.In Market B,the same tax will have only a small effect on the price consumers pay,but it will have a large effect on the equilibrium quantity.In which market will the tax have a larger deadweight loss

• A)market A because the demand of the market is relatively inelastic
• B)market B because the demand of the market is relatively elastic
• C)market A because the demand of the market is relatively elastic
• D)market B because the demand of the market is relatively inelastic

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Definitions:

If Statement

A control flow statement that allows conditional execution of a block of code, depending on the truth value of an expression.

Value Of Y

This term refers to discovering or discussing the numerical or literal content assigned to the variable identified as 'Y'.

Switch Statement

A switch statement is a control statement in programming languages used to perform different actions based on different conditions.

CompareTo Method

A method in Java that is used for comparing two objects or values, typically returning a negative integer, zero, or a positive integer based on the comparison.