Suppose that demand for smartphones is inelastic and the supply of smartphones is elastic. if the government imposes a $10 per smartphone excise tax on the consumption of smartphones, then the price that consumers pay will

a. increase by less than $5.
b. increase by exactly $5.
c. increase by more than $10.
d. decrease by less than $5.
e. decrease by more than $5 but less than $10.
f. increase by more than $5 but less than $10.

What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b.assessment criteria are inexpensive. c.assessment criteria provide you with a list of relevant things to measure. d.assessment criteria provide you with a list of people to contact to learn more about process mentoring.

Your team has identified the risks on the project and determined their risk score. the team is in the midst of determining what strategies to put in place should the risks occur. after some discussion, the team members have determined that the risk of losing their network administrator is a risk they'll just deal with if and when it occurs. although they think it's a possibility and the impact would be significant, they've decided to simply deal with it after the fact. which of the following is true regarding this question? a. this is a positive response strategy.b. this is a negative response strategy.c. this is a response strategy for either positive or negative risk known as contingency planning.d. this is a response strategy for either positive or negative risks known as passive acceptance.

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.