The more elastic the supply of a product, the more the actual burden of a tax on the product will:
a. fall on sellers.
b. fall on buyers.
c. fall equally on both buyers and sellers.
d. create a smaller deadweight loss (or excess burden).
b
Economics
You might also like to view...
Border effects can result from:
a. trade. b. tariffs. c. monopolistic competition. d. imperfect competition.
Economics
What is the relationship between total taxes and net taxes?
a. total taxes = net taxes ? transfer payments b. net taxes = total taxes + local taxes c. net taxes = transfer payments / total taxes d. total taxes = net taxes - transfer payments e. total taxes = net taxes + transfer payments
Economics