The consumer will pay for ______ of the tax and the seller will pay for ______ of the tax.
A. some; some
B. most; a little
C. all; none
D. none; all
D. none; all
Economics
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Wage and price stickiness
A. creates a surplus or a shortage of real GDP. B. give rise to a vertical long-run aggregate supply curve. C. give rise to a vertical short-run aggregate supply curve. D. prevents the economy from producing its potential level of real GDP.
Economics
The individual firm's demand curve under conditions of perfect competition is
a. perfectly horizontal b. perfectly vertical c. upward sloping d. downward sloping e. nonexistent in perfect competition
Economics