Which of the Following Is True?​

question 102

Multiple Choice

Which of the following is true?​

• A)​Once the equilibrium price and output is reached, all the mutually beneficial trade opportunities between suppliers and demanders will have taken place, and the sum of consumer and producer surplus is maximized.
• B)​The deadweight loss of a tax is the difference between the lost consumer and producer surplus and the tax revenue generated.
• C)​Those goods that are heavily taxed often have a relatively inelastic demand curve in the short run, so that the burden falls mainly on the buyer, and the deadweight loss to society is smaller than if the demand curve was more elastic.
• D)​All of the above are true.

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Definitions:

Cultural Sensitivity

The awareness, acknowledgment, and respect for the differences among cultures, crucial in effective communication and interaction.

Cultural Competency

The ability of individuals and organizations to effectively interact, work, and communicate with people from various cultural backgrounds.

Culturally Diverse

Reflecting a variety of cultural backgrounds and experiences, often emphasizing the importance of inclusivity and understanding in social and professional contexts.

Ethnic Group

A community or population made up of people who share a common cultural background, ancestry, or national origin.