Given Supply, the More Inelastic the Demand for a Product

question 39

True/False

Given supply, the more inelastic the demand for a product, the larger the portion of an excise tax that is shifted to consumers.

---

Definitions:

E-mail

A method of sending messages electronically from one computer user to one or more recipients via a network.

Social Networks

Online platforms that allow users to create public profiles, interact with real-life friends, and meet other people based on shared interests or activities.

Complaints

Expressions of dissatisfaction or grievances about a situation, product, or service.

Written Messages

Communication conveyed through writing, including letters, emails, or text messages.