The burden of a tax per unit of output will fall heavily on consumers when demand is relatively ________ and supply is relatively ________
A) inelastic; elastic
B) inelastic; inelastic
C) elastic; elastic
D) elastic; inelastic
A
Economics
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Microeconomics studies
A) decisions made by individual consumers and firms. B) the changes in economic theory brought about by real-world events. C) how small changes in the unemployment rate can have far-reaching effects. D) how small changes in the money supply can have far-reaching effects.
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