The Incidence of a Tax Is Unrelated to

question 12

Multiple Choice

The incidence of a tax is unrelated to

• A) how responsive producers are to the tax.
• B) how responsive consumers are to the tax.
• C) the elasticity of supply.
• D) the elasticity of demand.
• E) who pays the tax out of pocket.

Appreciate nuances in contract law concerning acceptance, rejection, and cure of nonconforming goods.

Analyze how course of performance and course of dealing can influence contract execution and expectations.

Understand the significance of commercial impracticability and legality in contract performance.

Differentiate between substantial impairments and trivial nonconformities in goods.

---

Definitions:

Parallel Components

Elements in an electrical circuit are said to be in parallel if they are connected across the same two points in the circuit, allowing electric current to split and flow through multiple paths.

Current Flow

The flow of electric charge carriers like electrons, through a conductor or electrical circuit.

Applied Voltage

The voltage that is supplied or exerted across a component or circuit.

R3

A designation for a resistor in an electrical circuit, the third identified resistor following an arbitrary or specified labeling convention.