If the Elasticity of Demand for a Product Equals 3

question 66

Multiple Choice

If the elasticity of demand for a product equals 3 and the supply is perfectly elastic,then if a tax is imposed on this product,

• A) the buyer pays all the tax.
• B) the seller pays all the tax.
• C) the buyer pays 3/4 of the tax.
• D) the seller pays 3/4 of the tax.
• E) the buyer pays 4/3 of the tax.

---

Definitions:

Overweight

Having more body weight than is considered normal or healthy for one's age, height, and body type.

Cognitive Development

The process by which a child learns to reason, solve problems, and think consciously as they grow older.

Lev Vygotsky

A Russian psychologist who developed theories on social cognitive development, emphasizing the role of social interactions and cultural tools in the development of thinking and learning.

Logical Principles

Fundamental concepts that underpin valid reasoning and the structure of logical arguments.