The government imposes a sales tax on hot dogs. The tax would be paid entirely by hot dog sellers if the
A) supply is perfectly elastic.
B) supply is perfectly inelastic.
C) demand is perfectly inelastic.
D) none of the above.
B
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Refer to Table 29-3. Given the following exchange rates in the above table, what are the exchange rates stated as U.S. dollars per Danish krone and U.S. dollars per EU euro respectively?
A) 2.00 dollars per krone and 7.14 dollars per euro B) 0.02 dollars per krone and 0.70 dollars per euro C) 0.20 dollars per krone and 1.43 dollars per euro D) 0.05 dollars per krone and 1.30 dollars per euro
How would we expect the economic growth rates in future years of country A and country B to compare?
A. Country A will have a higher growth rate.
B. Country B will have a higher growth rate.
C. Both countries will grow at about the same rate.
D. There is not enough information to determine the relative growth rates of countries A and B.