When the Demand for a Product Is Less Elastic Than

question 207

Multiple Choice

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

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

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Definitions:

Pathophysiology

The study of how normal physiological processes are affected by disease, leading to the functional changes associated with health conditions.

Exocytosis

A process by which a cell transports secretory products through the cytoplasm to the plasma membrane and then into the extracellular environment.

Recessive Gene

A type of gene that is not expressed in the phenotype unless it is present on both chromosomes of a pair, overshadowed by dominant genes when in combination.

Dominant Gene

A gene that expresses its phenotypic effect even when heterozygous with a recessive gene.