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Author Question: If the demand for cell phone service is inelastic, then A) the percentage change in quantity ... (Read 27 times)

biggirl4568

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on: Jun 29, 2018
If the demand for cell phone service is inelastic, then
 
  A) the percentage change in quantity demanded is greater than the percentage change in price (in absolute value).
  B) the percentage change in quantity demanded is less than the percentage change in price (in absolute value).
  C) the percentage change in quantity demanded is equal to the percentage change in price.
  D) the quantity demanded does not change in response to changes in price.

Question 2

What conclusion did the 1962 University of Chicago study on the burden of the corporate tax rate make?
 
  What will be an ideal response?
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underwood14

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The study concluded that owners of corporations, proprietorships, and partnerships all bear the burden of the corporate tax in rough proportion to profits, even though it is directly levied only on corporations.


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