Suppose the Demand Curve for a Product Is Downward Sloping

question 58

Multiple Choice

Suppose the demand curve for a product is downward sloping and the supply curve is upward sloping.If a unit tax is imposed in the market for this product

• A)sellers bear the entire burden of the tax.
• B)the tax burden will be shared among the government,buyers and sellers.
• C)buyers bear the entire burden of the tax.
• D)the tax burden will be shared by buyers and sellers.

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