Refer to the table below. If an excise tax of $3 per unit is imposed on this product, the incidence of the tax will be:
The following table gives data for the market for a product.
A. $3 on the buyers and $0 on the sellers
B. $0 on the buyers and $3 on the sellers
C. $2 on the buyers and $1 on the sellers
D. $1 on the buyers and $2 on the sellers
C. $2 on the buyers and $1 on the sellers
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The short-run Phillips curve tradeoff becomes less favorable if either
A) the expected inflation rate or the natural unemployment rate increases. B) potential GDP or the natural unemployment rate increases. C) potential GDP or the natural unemployment rate decreases. D) the level of real GDP decreases or the natural unemployment rate decreases. E) the expected inflation rate increases or the natural unemployment rate decreases.
Three forces played a significant role in preparing Indian policy makers for economic reform. Describe them
What will be an ideal response?