If the Demand Curve Is Very Elastic and the Supply

question 38

True/False

If the demand curve is very elastic and the supply curve is very inelastic in a market, then the sellers will bear a greater burden of a tax imposed on the market, even if the tax is imposed on the buyers.

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Definitions:

Formal

Pertaining to actions, processes, documents, or situations that are official, structured, and governed by established rules or protocols.

Sociological Theories

Conceptual frameworks that seek to explain patterns of social behavior and the structure of society, understanding the dynamics of social relations, institutions, and groups.

Pathologized Women

Refers to the process by which women’s natural body processes or behaviors are viewed as abnormal or diseased within a medical or societal context.

Usage of Trade

Usage of trade refers to the regular practices and methods that are commonly accepted and expected by parties in a particular industry.