If the Supply Curve Is Perfectly Inelastic and the Demand

question 46

Multiple Choice

If the supply curve is perfectly inelastic and the demand curve is a downward sloping straight line,what is the effect of a consumer ad valorem tax on equilibrium price and quantity?

• A) Price remains unchanged and quantity increases.
• B) Price decreases and quantity increases.
• C) Price decreases and quantity remains unchanged.
• D) Price and quantity decrease.

Identify the role of Internet censorship in controlling information access.

Understand competitive advantage strategies and their significance in the global market.

Identify and explain the consequences of legal-political conditions on global business operations.

Recognize the importance of socio-cultural conditions in shaping business environments.

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Definitions:

Sacagawea

A Lemhi Shoshone woman who assisted the Lewis and Clark Expedition as an interpreter and guide in the early 19th century.

Lewis And Clark

Two American explorers, Meriwether Lewis and William Clark, who led the early 19th-century expedition across the western United States to explore newly acquired land from the Louisiana Purchase.

Naturalization Act

Legislation related to the process by which a non-citizen in a country may acquire nationality or citizenship of that country.

Aaron Burr

A political figure in early American history known for serving as Vice President under Thomas Jefferson and for his infamous duel with Alexander Hamilton.