The Demand for Food Is Very Inelastic Compared to the Supply

question 38

Multiple Choice

The demand for food is very inelastic compared to the supply of food,so if a tax is imposed on the consumers of food,the tax incidence:

• A)is typically on consumers more than producers.
• B)is typically on producers more than consumers.
• C)is typically split equally between consumers and producers.
• D)cannot be determined without more information.

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Definitions:

IUPAC Systematic Name

A standardized naming system for chemicals formulated by the International Union of Pure and Applied Chemistry (IUPAC) that provides a unique way to identify a chemical substance.

N-Methyl-2-Ethyl-5-Methyloctanamide

An organic compound with a specific arrangement of methyl, ethyl groups, and an amide functional group, indicating a complex molecular structure.

Carbonyl Stretching Frequency

Refers to the specific vibration frequency observed in infrared spectroscopy for the carbon-oxygen double bond in carbonyl groups, typically around 1650 to 1750 cm^-1.

Esters

Organic compounds derived from carboxylic acids in which the hydrogen of the carboxyl group is replaced by a hydrocarbon group, often responsible for the sweet or fruity aromas and flavors of many fruits and flowers.