If the Demand Curve for a Good Is Unit Price

question 81

Multiple Choice

If the demand curve for a good is unit price elastic and the supply curve is perfectly price elastic,a $1 specific tax imposed on the sellers of this good will

• A) shift the supply curve up vertically by $1.
• B) shift the demand curve down vertically by $1.
• C) not raise price at all.
• D) cause price to increase but by less than $1.

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Definitions:

Urethra

A duct through which urine is discharged from the bladder to the exterior of the body in both males and females, and through which semen is discharged in males.

Reproductive System

Organ system in humans that includes the sex-specific organs (testes, ovaries, etc.); produces and transports gametes; in females, nurtures and gives birth to offspring.

Endocrine

Pertaining to glands which secrete hormones or other products directly into the blood.

Glomerulus

A network of capillaries located at the beginning of a nephron in the kidney, where blood filtration takes place.