Small, developing countries must first become self-sufficient before they can benefit from international trade

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.

Refer to the scenario above. Which of the following is an optimal bid for Molly?

A) $836 B) $750 C) $825.50 D) $700