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If the Supply Curve Slopes Upward and a $3 Per

question 181

True/False

If the supply curve slopes upward and a $3 per unit tax on suppliers raises the profit-maximizing price by $3, demand must be perfectly inelastic.


Definitions:

Psychographic Segmentation

A marketing strategy that divides a market based on consumer personality traits, lifestyles, interests, attitudes, and values.

Geographic Segmentation

The division of a market into different geographical units such as countries, states, regions, cities, or neighborhoods, to tailor marketing efforts to local preferences and conditions.

Lifestyle

The interests, opinions, behaviours, and behavioural orientations of an individual, group, or culture.

Geodemographics

Geodemographics is a method of market segmentation that combines geography with demographic information to classify populations for targeted marketing and research purposes.

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