When considering different tax levels, the revenue-maximizing point will be reached more:
A. slowly when demand is more elastic.
B. quickly when demand is more elastic.
C. quickly when demand is less elastic.
D. quickly if demand is unit elastic.
B. quickly when demand is more elastic.
Economics
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Which of the following activities will not be included in the GDP of an economy?
a. Sam buying a toy car imported from China from a toy shop in Boston b. Jane paying a certain amount to Moe to mow her lawn c. Bob buying a pound of cherries to garnish the cakes made in his bakery shop d. Corey paying his landlord rent for his new apartment
Economics
What is a surplus? What is a shortage?
What will be an ideal response?
Economics