A Tax Would Not Impose a Welfare Cost Only If:​

question 92

Multiple Choice

A tax would not impose a welfare cost only if:​

• A)​the quantity exchanged did not change as a result.
• B)​supply was perfectly elastic.
• C)​supply was unit elastic.
• D)​the demand curve was perfectly elastic.

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Definitions:

Standardization of Outputs

The process of ensuring that products, services, or processes meet a consistent standard or quality across different instances or units.

Skills Standardization

The process of ensuring that skills and competencies meet a consistent standard across individuals or organizations.

Inputs Standardization

The process of ensuring that inputs or resources used in a system or process meet specific, consistent standards.

Direct Supervision

A management approach where supervisors have immediate oversight and control over the work and conduct of their subordinates.