Explain how the burden of a payroll tax changes if labor supply is relatively inelastic? Explain how your answer would change if labor supply is relatively elastic?
What will be an ideal response?
Workers bear the bulk of the burden of a payroll tax if labor supply is relatively inelastic. However, firms bear the bulk of the burden of payroll tax if labor supply is relative elastic.
Economics
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For health care, the perceived marginal benefit ________ the marginal social benefit
A) is less than B) is greater than C) is equal to D) cannot be compared to
Economics
In long-run equilibrium, the typical perfectly competitive firm will:
a. earn zero economic profit. b. change plant size in the long run. c. change output in the short run. d. do any of these.
Economics