The quantity demanded of salt decreases when the price of pepper increases. This is an example of * O own-price elasticity. O supply elasticity. O income elasticity. O rubber band elasticity. cross-price elasticity. If the government wants to put a per unit tax on a product so that it can raise revenue to support local schools, it would most likely accomplish this goal by doing which of the following? * O placing a tax on a good with an elastic demand. O placing a tax on a good that has many substitutes. O placing a tax on a good with an inelastic demand. O placing a tax on a good with a perfectly elastic demand. O relying of the goodness of mankind and simply ask for donations.
The quantity demanded of salt decreases when the price of pepper increases. This is an example of * O own-price elasticity. O supply elasticity. O income elasticity. O rubber band elasticity. cross-price elasticity. If the government wants to put a per unit tax on a product so that it can raise revenue to support local schools, it would most likely accomplish this goal by doing which of the following? * O placing a tax on a good with an elastic demand. O placing a tax on a good that has many substitutes. O placing a tax on a good with an inelastic demand. O placing a tax on a good with a perfectly elastic demand. O relying of the goodness of mankind and simply ask for donations.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The quantity demanded of salt decreases when the price of pepper increases.
This is an example of *
own-price elasticity.
supply elasticity.
income elasticity.
O rubber band elasticity.
cross-price elasticity.
If the government wants to put a per unit tax on a product so that it can raise
revenue to support local schools, it would most likely accomplish this goal by
doing which of the following? *
O placing a tax on a good with an elastic demand.
placing a tax on a good that has many substitutes.
placing a tax on a good with an inelastic demand.
placing a tax on a good with a perfectly elastic demand.
O relying of the goodness of mankind and simply ask for donations.
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