The burden of a tax falls entirely on sellers if ________
A) the price elasticity of demand is unitary elastic
B) the price elasticity of supply is greater than 1
C) the income elasticity of demand is high
D) the price elasticity of supply is zero (perfectly inelastic)
D
Economics
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The concept of "opportunity cost" helps us explain the choices of
A) consumers only. B) producers only. C) greedy people only. D) politicians only. E) any individual.
Economics
Decrease in personal income taxes will ________ the expenditure curve:
A) decrease. B) increase. C) not change. D) none of the above.
Economics