If the Demand for a Product Is Perfectly Elastic and Supply

question 67

Multiple Choice

If the demand for a product is perfectly elastic and supply is upsloping,a $1 excise tax per unit on suppliers will:

• A) not raise price at all.
• B) lower price by $1.
• C) raise price by $1.
• D) raise price by more than $1.

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Definitions:

Directive Leadership Style

A leadership approach where the leader takes a highly authoritative role, making decisions unilaterally and expecting subordinates to follow instructions without much input.

Strengths-Based Leadership

A leadership approach focusing on identifying and maximizing the strengths of team members rather than fixing their weaknesses.

Transformational Leadership

A leadership style that inspires and motivates followers to exceed their own self-interests for the good of the organization, often by emphasizing vision, values, and ethical standards.

360-Degree Feedback

A process where employees receive confidential, anonymous feedback from the people who work around them.