A tax on candy will be paid by ______
A. only buyers if the demand for candy is inelastic
B. only sellers if the supply for candy is inelastic
C. buyers and sellers if the demand for candy is elastic
D. only buyers if the supply of candy is elastic
C While sellers pay more of the tax if demand is elastic, both buyers and sellers part of the tax.
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Which of the following would NOT cause the demand curve for bonds to shift?
A) a change in wealth B) a change in the price of bonds C) a change in the liquidity of bonds D) a change in expected inflation
When a firm is experiencing economics of scale, long run
a. average total cost is minimized, b. average total cost is greater than long-run marginal cost, c. average total cost is less than long-run marginal cost, d. marginal cost is minimized. e. none of the above