The burden of a tax will fall primarily on buyers when the
a. demand for the product is highly inelastic and the supply is relatively elastic.
b. demand for the product is highly elastic and the supply is relatively inelastic.
c. tax is legally (statutorily) imposed on the seller of the product.
d. tax is legally (statutorily) imposed on the buyer of the product.
A
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Daily foreign exchange transactions have grow from about $15 billion in 1973 to about $4 trillion today
Indicate whether the statement is true or false
Bindy, an 18-year-old high school graduate, and Luciana, a 40-year-old college graduate, just purchased identical hot new sports cars. Acme Insurance charges a higher rate to insure Bindy than Luciana. This practice is an example of:
A) collusion. B) price discrimination. C) two-part tariff. D) bundling. E) none of the above