Using supply and demand analysis, which of the following is true?
a. The burden of a tax on production cannot be determined on the basis of who actually pays the tax.
b. The burden of a tax on production is always split evenly between consumers and sellers.
c. Consumers bear the entire burden of a per unit tax on production.
d. Sellers bear the entire burden of a per unit tax on production.
a
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Depreciation or consumption of fixed capital depreciation measures:
a. net investment less gross investment. b. the loss of productive ability due to capital intensive production. c. capital that is wasted in the production process. d. the value of existing capital stock used up in the production process. e. the decline in the value of inventories caused by inflation.
Both an NBA basketball player and a fast-food cook are going to graduate school. Who has a higher opportunity cost? Explain
What will be an ideal response?