If a tax shifts the demand curve upward (or to the right), we can infer that the tax was levied on
a. buyers of the good.
b. sellers of the good.
c. both buyers and sellers of the good.
d. We cannot infer anything because the shift described is not consistent with a tax.
d
Economics
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Which of the following is an example of the law of supply?
A) The price of gum has increased so producers are making more gum. B) The price of labor has increased and producers decrease supply. C) The amount of a good purchased increases when the price decreases. D) Producers provide less of a good when the price increases.
Economics
A tax on insulin is likely to cause a very large deadweight loss to society
a. True b. False Indicate whether the statement is true or false
Economics