If the government wanted a tax to not burden consumers much, it would want to tax an industry with:
a. elastic supply and demand curves.
b. inelastic supply and demand curves.
c. inelastic supply and elastic demand.
d. elastic supply and inelastic demand.
c
Economics
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A not-for-profit organization conducts several workshops to prevent drug addiction among teenagers. This is an example of ________
A) indoctrination B) backward induction C) anchoring D) sniping
Economics
Which of the following statements is FALSE?
A) A perfectly inelastic supply curve is a vertical line. B) Time is an important consideration in determining supply elasticity. C) Price elasticity of supply can never equal 1. D) A horizontal supply curve is possible.
Economics