Suppose the local government places a sales tax on hotel rooms and that the demand for these rooms is elastic while the supply is perfectly inelastic. The tax incidence is such that the tax will be paid by

A) only the consumers.
B) equally by the consumers and the producers.
C) only the producers.
D) the taxpayers.

C

Economics

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Julie's total utility from cheeseburgers is given in the table above. What is the marginal utility of the third cheeseburger?

A) 86 B) 28.7 C) 20 D) 14

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List and describe the two government agencies that enforce antitrust laws in the United States

What will be an ideal response?

Economics