When Demand Is Perfectly Inelastic the Buyer Pays _____ of a Tax

question 16

Multiple Choice

When demand is perfectly inelastic the buyer pays _____ of a tax.

• A)all
• B)most
• C)half
• D)less than half
• E)none

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Definitions:

Martin Waldseemüller

A German cartographer who created the first map to name and depict the Americas as separate continents, published in 1507.

Colonial Plantation Economy

An economic system prevalent in the American colonies that relied heavily on the cultivation of cash crops using slave labor.

Canaries

Small, singing birds often kept as pets, known for their vibrant color and melodious songs.

Azores

A group of nine volcanic islands situated in the North Atlantic Ocean and is an autonomous region of Portugal.