Suppose the Supply Curve and the Demand Curve Both Have

question 93

Multiple Choice

Suppose the supply curve and the demand curve both have unitary elasticity at all prices.The price increase to consumers resulting from a specific tax of $1 imposed on sellers will be

• A) $1.
• B) 50 cents.
• C) zero.
• D) impossible to calculate without knowing the slope of the supply curve.

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Definitions:

Sexual Reproduction

A type of reproduction in which two gametes (usually, but not necessarily, contributed by two different parents) fuse to form a zygote. Compare with asexual reproduction.

Genetic Variation

The diversity in gene frequencies within a population, resulting from mutation, sexual reproduction, and other genetic processes, contributing to the population's adaptability.

Evolution

Any cumulative genetic changes in a population from generation to generation. Evolution leads to differences in populations and explains the origin of all the organisms that exist today or have ever existed.

Cell Theory

The scientific theory that the cell is the basic unit of life, of which all living things are composed, and that all cells are derived from pre-existing cells.