Suppose the Price Elasticity of Demand Is Relatively Elastic and the Price

question 255

Multiple Choice

Suppose the price elasticity of demand is relatively elastic and the price elasticity of supply is relatively inelastic in a specific market.If an excise tax is imposed on this good,who will bear the greater burden of the tax?

• A)consumers
• B)producers
• C)both consumers and producers equally
• D)government

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Definitions:

Excretory Organ

Organs involved in the removal of waste products and excess substances from the body, including kidneys, liver, lungs, and skin.

Glomerular Endothelium

The inner lining of the glomerulus in the kidney, involved in the filtration of blood to form urine.

Filtration Membrane

A barrier that separates particles based on size, allowing some to pass while blocking others, specifically in the context of biological systems like the kidneys.

Podocytes

Specialized cells in the kidneys that wrap around capillaries of the glomerulus, playing a key role in the filtration of blood to form urine.