A limit on the dollar worth of oranges imported into the United States is an example of a quantity quota

Suppose the government wants to discourage the use of cigarettes. If it imposes a tax on cigarettes, the equilibrium quantity falls the most when the elasticity of demand equals

A) 2.00. B) 1.00. C) 0.50. D) 0.

A binding minimum wage

a. alters both the quantity demanded and quantity supplied of labor. b. affects only the quantity of labor demanded; it does not affect the quantity of labor supplied. c. has no effect on the quantity of labor demanded or the quantity of labor supplied. d. causes only temporary unemployment because the market will adjust and eliminate any temporary surplus of workers.