Author Question: The less elastic the supply, the A) less likely the government is to tax the product. B) less ... (Read 8 times)

tiffannnnyyyyyy · **on:** Jun 29, 2018

The less elastic the supply, the

A) less likely the government is to tax the product.
B) less likely the government is to impose a price ceiling.
C) larger the fraction of any tax imposed on the product that is paid by the suppliers.
D) less elastic the demand.

Question 2

Dana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make 10,000 and 50 percent chance that she will make nothing. What's Dana's expected income from taking this job?

A) 10,000
B) 7,000
C) 5,000
D) zero