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​Match Each Item with the Correct Statement Below.​

question 95

Multiple Choice

​Match each item with the correct statement below.​
-the mass of a baseball


Definitions:

Unitary

A property of elasticity where a change in price causes a proportional change in the quantity demanded or supplied, with an elasticity coefficient of 1.

Incidence

Refers to the impact or burden of a tax, how it is distributed among various participants in the market.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity supplied divided by the percentage change in price.

Incidence

The allocation or impact of a tax or policy on the economic activities or welfare of different groups in society.

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