Suppose a Tax of $1 Per Unit Is Imposed on a Good.The

question 9

Multiple Choice

Suppose a tax of $1 per unit is imposed on a good.The more elastic the supply of the good,other things equal,the

• A)smaller is the response of quantity supplied to the tax.
• B)larger is the tax burden on sellers relative to the tax burden on buyers.
• C)larger is the deadweight loss of the tax.
• D)All of the above are correct.

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Definitions:

Biotechnology

The use of living organisms or other biological systems in the production of drugs, agricultural products, and technologies.

Atomic Bomb

A weapon of mass destruction that releases energy through nuclear reactions, causing significant destruction and radiation exposure.

Robert Oppenheimer

A physicist known as the "father of the atomic bomb" for his role in the Manhattan Project, the World War II project that developed the first nuclear weapons.

Leslie Groves

A U.S. Army Corps of Engineers officer and the director of the Manhattan Project, the project during World War II that developed the first nuclear weapons.