In the Long Run,both Supply and Demand Tend to Become

question 13

Multiple Choice

In the long run,both supply and demand tend to become more elastic.This suggests that,in the long run,the

• A) deadweight loss from a tax will be less than it is in the short run.
• B) deadweight loss will be zero.
• C) government will likely reduce tax rates.
• D) tax revenue will be lower than it is in the short run.
• E) tax revenue will be higher than it is in the short run.

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An individual's sense of who they are based on their group memberships, such as national, ethnic, or social groups.

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