Given the Same Supply Elasticity, the Burden of a 10

question 170

Multiple Choice

Given the same supply elasticity, the burden of a 10 percent tax on suppliers would be greatest on consumers within what price range? $$\begin{array} { | c | c | } \hline \text { Price } & \text { Quantity } \\\hline \$ 2.00 & 26 \\\hline 4.00 & 22 \\\hline 6.00 & 18 \\\hline \mathbf { 8 . 0 0 } & 14 \\\hline 10.00 & 10 \\\hline\end{array}$$

• A)$2 and $4.
• B)$4 and $6
• C)$6 and $8
• D)$8 and $10

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Definitions:

Pay Bills

The action of settling obligations or invoices owed to suppliers by a business, often through a specific module or function within accounting software.

Financial Institutions

Organizations that provide financial services, such as banks, credit unions, and insurance companies.

Tax Agencies

Governmental organizations responsible for the administration and collection of taxes and enforcement of tax laws.

Inventory Suppliers

These are the entities or individuals from whom a business purchases its inventory, comprising goods intended for sale.