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

question 162

Multiple Choice

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

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

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Definitions:

Mutual Understanding

A state of agreement or shared perspectives achieved through effective communication and empathy between parties.

Group Level

A reference to the collective characteristics or dynamics of a group as opposed to individual members.

Project Team

A group of individuals with diverse skills and roles assembled to execute a specific project, achieving defined goals over a set timeframe.

Unethical Corporate Behavior

Actions taken by a company that are dishonest, fraudulent, or in violation of moral, legal, or professional norms.