The Demand Curve for Pizza Is Downward Sloping and the Supply

question 12

Multiple Choice

The demand curve for pizza is downward sloping and the supply curve is upward sloping. If the government imposes a $2 tax on a pizza, ________ the tax.

• A)only consumers pay
• B)only producers pay
• C)both producers and consumers pay
• D)neither producers nor consumers pay
• E)the government pays

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Definitions:

Affluent Society

A society that possesses a high level of wealth and consumption, often characterized by a high standard of living.

Marshall Sahlins

An American anthropologist known for his work on the structure of kinship and the evolution of societies and cultures.

Paleolithic

Referring to the earliest period of the Stone Age, characterized by the use of primitive stone tools and hunting and gathering as a way of life.

Food Scarcity

A condition in which there is not enough food to satisfy the dietary requirements of the population, resulting in widespread hunger and malnourishment.