When a tax is placed on the buyers of a product, the
a. size of the market decreases.
b. effective price received by sellers decreases, and the price paid by buyers increases.
c. demand for the product decreases.
d. All of the above are correct.
d
Economics
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Refer to Figure 5-4.What is the economically efficient output level?
A) Q1 B) Q1 plus Q2 C) Q2 minus Q1 D) Q2
Economics
Marginal product is:
A. the increase in total output attributable to the employment of one more worker. B. the increase in total revenue attributable to the employment of one more worker. C. the increase in total cost attributable to the employment of one more worker. D. total product divided by the number of workers employed.
Economics