Suppose the Demand Curve Is Perfectly Inelastic and the Supply

question 117

Multiple Choice

Suppose the demand curve is perfectly inelastic and the supply curve is upward sloping.The price sellers receive after a specific tax is imposed on sellers

• A) is less than before the tax.
• B) is higher than before the tax.
• C) is unchanged.
• D) depends on the supply elasticity.

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Definitions:

Metabolic Alkalosis

A condition characterized by an increase in the alkalinity (pH) of the body's fluids, often due to an excessive loss of acidic substances.

Respiratory Alkalosis

A condition resulting from a decrease in the partial pressure of carbon dioxide due to hyperventilation, leading to a pH imbalance.

Hyperventilation

Rapid or deep breathing that exceeds the body's need for oxygen, often resulting in dizziness.

Water Intake

The process of consuming water to maintain hydration, essential for bodily functions and overall health.