When the Demand for a Product Is More Elastic Than

question 198

Multiple Choice

When the demand for a product is more elastic than the supply,

• A)consumers pay the majority of the tax on the product.
• B)consumers pay the entire tax on the product.
• C)firms pay the majority of the tax on the product.
• D)firms pay the entire tax on the product.

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Definitions:

Psychoanalytic Theory

A theory of personality and therapeutic technique that attributes thoughts and actions to unconscious motives and conflicts.

Darwin's Theory

The scientific theory of biological evolution by natural selection, developed by Charles Darwin, explaining the diversity of life.

Copernicus's Teachings

The astronomical ideas proposed by Nicolaus Copernicus, which include the theory that the Sun is at the center of the universe and the Earth rotates around it.

Parapraxis

An unintentional utterance or action caused by a leakage from the unconscious parts of the mind; also called Freudian slip.