If the demand for a good is very price elastic, the imposition of a tax on that good
a. places the largest portion of the burden on the sellers of that product
b. places the burden of the tax equally on buyers and sellers
c. places the largest portion of the tax on consumers
d. will make demand more elastic than it was before the tax
e. will make demand more inelastic than it was before the tax
A
Economics
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Refer to Figure 4.1. The dominant strategy for Alvin is
A) Top B) Bottom C) both Top and Bottom D) Alvin does not have a dominant strategy.
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In the Case in Point on campus parking, the implication was that existing prices for parking spaces on university campuses are generally:
A) too high. B) too low. C) about right. D) unconscionable.
Economics