This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The demand for insulin is quite inelastic. The demand for Pepsi is quite elastic. Suppose the ... (Read 45 times)

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
on: May 24, 2019
The demand for insulin is quite inelastic. The demand for Pepsi is quite elastic. Suppose the elasticity of supply for insulin is the same as the elasticity of supply for Pepsi. If a $0.20 tax was imposed on each of these goods (holding everything else constant), which consumers would pay more of the tax?
◦ the Pepsi consumers
◦ the insulin consumers
◦ There would be no difference in the amount of tax paid by the consumers.
◦ More information is needed to determine which consumers pay more of the tax.
◦ The premise of the question is wrong because the elasticity of demand and the incidence of a tax are not related.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Pineapplelove6 on May 24, 2019

ghepp

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: May 24, 2019
Thanks


ghepp

  • Sr. Member
  • ****
  • Posts: 361
Reply #3 on: May 24, 2019
Welcome :)


« previous next »
 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Humulin R insulin. Humulin R insulin.
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Synthesis of insulin. Synthesis of insulin.
The antagonistic actions of insulin and The antagonistic actions of insulin and
A Partially Filled 50-Unit Insulin Syringe A Partially Filled 50-Unit Insulin Syringe
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Video: Cardiac Cycle (Part 2 of 4)

For a complete list of videos, visit our video library