If the Demand for Bread Is More Elastic Than the Supply

question 158

Multiple Choice

If the demand for bread is more elastic than the supply of bread,which group will bear more of the incidence of a tax on bread?

• A) consumers
• B) the government
• C) neither consumers nor producers
• D) producers
• E) both consumers and producers equally

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Definitions:

Permanent Magnet Motor

An electric motor that uses permanent magnets instead of electromagnets as the field coils. They draw less power than motors with electromagnetic field coils and can be made smaller as a result.

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An electrically controlled system that locks and unlocks the doors of a vehicle, offering convenience and increased security.

Digital Multimeter

A handheld electrical testing device that can measure AC and DC voltage, resistance, amps, and other measurements.

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Semiconductor devices that emit light when an electric current passes through them, widely used for indicators, displays, and lighting applications.