Suppose a Tax of $1 Per Unit Is Imposed on a Good.The

question 9

Multiple Choice

Suppose a tax of $1 per unit is imposed on a good.The more elastic the supply of the good,other things equal,the

• A)smaller is the response of quantity supplied to the tax.
• B)larger is the tax burden on sellers relative to the tax burden on buyers.
• C)larger is the deadweight loss of the tax.
• D)All of the above are correct.

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Definitions:

Optic Disk

The point in the eye where the optic nerve connects to the retina, also known as the blind spot.

Retina

A thin layer of tissue located on the inside back wall of the eye, containing cells that are sensitive to light and trigger nerve impulses that pass via the optic nerve to the brain, where a visual image is formed.

Lens

A part of the eye that focuses light onto the retina, enabling vision.

Light

A form of electromagnetic radiation visible to the human eye, critical for sight and involved in various biological processes.