In a Market Where Supply and Demand Are Equally Elastic,producers

question 2

Multiple Choice

In a market where supply and demand are equally elastic,producers and consumers will share equally the burden of a tax because

• A) producers will simply raise the price of their output in response to the tax.
• B) consumers will buy less of the good in question once the tax is imposed.
• C) the tax is more likely to be paid out of pocket by producers.
• D) the government doesn't care who pays the tax as long as the revenue is collected.
• E) both have equal ability to change their behavior in response to the tax.

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Definitions:

Refuge Strategy

A tactic used by prey organisms to escape predators, involving finding or creating safe locations where they are less likely to be found or caught.

Trade-Off

A situation that involves losing one quality, quantity, or property of a set or design in return for gaining another.

Gene Flow

The transfer of genetic variation from one population to another, which can lead to changes in the genetic makeup of both populations.

Eda Gene

A gene associated with the development of ectodermal tissues, including skin, hair, teeth, and glands, and can influence phenotypic variations.