If a Commodity Has A(n)_____,a Greater Share of the Burden

question 29

Multiple Choice

If a commodity has a(n) _____,a greater share of the burden of an excise tax levied on the commodity would be borne by the producers.

• A)relatively elastic supply curve and a perfectly inelastic demand curve
• B)perfectly elastic supply curve
• C)relatively inelastic demand curve and a relatively elastic supply curve
• D)perfectly elastic demand curve

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Definitions:

Credit Periods

The span of time businesses allow customers to pay off the amount due for the purchase of goods or services.

Collection Procedures

Established methods and processes used by a company to collect payments or debts from its customers or debtors.

Terms Of Sale

Conditions on which a firm sells its goods and services for cash or credit.

Conditional Sales Contract

A conditional sales contract is an agreement in which the sale of an asset or property is contingent upon certain conditions, often including the completion of payment installments.