3. When a tax is levied on sellers of tea, buyers of a good bear the larger share of the tax burden when the 

(i) supply is more elastic than the demand for the product.
(ii) demand in more elastic than the supply for the product.

 (iii) tax is placed on the sellers of the product.
(iv) tax is placed on the buyers of the product.
(A) (i) only
(B) (i) only
(C) (i) and (iii) only
(D) (i) and (iv) only

19 (A) la mobilité (B) la solidarité (C) l’accessibilité (D) la cohabitation

20 Voici le titre d’un article de l’Express publié le 15 juillet 2022 : « Réchauffement climatique : pourquoi les messages alarmistes ont un effet boomerang ? » Choisissez la bonne signification de « l’effet de boomerang ». (A) C’est une expression qui résume une métaphore concernant le phénomène fondamental de sensibilité. (B) C’est une action qui se retourne contre son auteur. (C) C’est un phénomène social caractérisé par l’imitation du comportement de personnes de son entourage. (D) Ce sont des opinions divergentes.

1. Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time. Which of the following explanations would be most consistent with this observation? (A) Consumers have experienced an increase in income, and beef-production technology has improved. (B) The price of chicken has risen, and the price of steak sauce has fallen. (C) New medical evidence has been released that indicates a negative correlation between a person's beef consumption and life expectancy. (D) Beef producers, concerned about the heaith of their customers, decided to produce relatively less beef.

2. Suppose a tax of $4 per unit is imposed on a good, and the tax causes the equilibrium quantity of the good to decrease from 2,000 units to 1,700 units. The tax decreases consumer surplus by $3,000 and decreases producer surplus by S4,400. The deadweight loss of the tax is (A) $ 200. (B) $ 400. (C) $ 600. (D) $ 1,200.

4. The substitution eflect of an increase in the interest rate will result in an increase in (A) consumption when young and increase in savings when young. (B) consumption when old and an increase in savings when young. (C) consumption when young and an increase in savings when old. (D) savings when old and an increase in consumption when old.

5. Assume that goods X and Y are not Giffen goods. If the price of good X falls, a consumer will definitely (A) consume more of good X because her budget constraint has rotated outward. (B) consume more of good X because her budget constraint has shifted outward. (C) consume more of good Y because her budget constraint has rotated outward. (D) consume more of good Y because her budget constraint has shifted outward.

6. Thirsty Thelma owns and operates a small lemonade stand, When Thelma is producing a small quantity of lemonade she has few workers and her equipment is not being fully utilized. Because she can easily put her idle resources to use, (A) the marginal cost of an extra worker is large. (B) the marginal product of an extra worker is small. (C) The marginal cost of one more glass of lemonade is small. (D) Her lemonade stand is likely to be crowded with workers.

7. When total revenue is less than total variable cost, a frm in a competitive market will (A) shut down. (B) continue to operate as long as average revenue exceeds marginal cost. (C) continue to operate as long as average revenue exceeds average fixed costs. (D) always exit the industry.

8. In a competitive market, a firm's supply curve dictates the amount it will supply. In a monopoly market (A) the same is true. (B) the decision about how much to supply is impossible to separate from the demand curve it faces. (C) the supply curve conceptually makes sense, but in practice is never used. (D) the supply curve will have limited predictive capacity.

9. Equilibrium quantity in markets characterized by oligopoly are (A) lower than in monopoly markets and higher than in perfectly competitive markets. (B) lower than in monopoly markets and lower than in perfectly competitive markets. (C) higher than in monopoly markets and higher than in perfectly competitive markets. (D) higher than in monopoly markets and lower than in perfectly competitive markets.