For a Given Elasticity of Demand,the Less Elastic the Supply,the

question 108

Multiple Choice

For a given elasticity of demand,the less elastic the supply,the

• A) larger the deadweight loss from a tax.
• B) larger the share of a tax paid by the sellers.
• C) greater the burden on the government from a tax.
• D) greater is the excess burden from a tax.
• E) larger the share of a tax paid by the buyers.

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Definitions:

Situational Attributions

The process of explaining the behavior of others based on external factors or the context of their actions.

Dispositional Causes

Factors related to an individual's personality, traits, or temperament that influence their behavior and actions.

Reciprocal Liking

Reciprocal liking refers to the phenomenon where individuals are more likely to feel attracted to and like someone who feels the same way towards them.

Self-Serving Bias

The common tendency to attribute one's successes to personal characteristics and failures to external factors.