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13 Dec 2019
18. Suppose the supply curve and the demand curve both have unitary elasticity at all prices. The price increase to consumers resulting from a specific tax of $1 imposed on sellers will be
A) $1.
B) 50 cents.
C) zero.
D) impossible to calculate without knowing the slope of the supply curve.
14. If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01.
B) .09.
C) 1.
D) 11.
LET ME KNOW HOW TO SOLVE THIS, NOT ONLY GIVE THE ANSWER
18. Suppose the supply curve and the demand curve both have unitary elasticity at all prices. The price increase to consumers resulting from a specific tax of $1 imposed on sellers will be
A) $1.
B) 50 cents.
C) zero.
D) impossible to calculate without knowing the slope of the supply curve.
14. If the supply curve for orange juice is estimated to be Q = 40 + 2p, then, at a price of $2, the price elasticity of supply is
A) .01.
B) .09.
C) 1.
D) 11.
LET ME KNOW HOW TO SOLVE THIS, NOT ONLY GIVE THE ANSWER
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