Explain Why in an Ideal Supply and Demand Model It

question 44

Essay

Explain why in an ideal supply and demand model it does not really matter whether a tax on a good has to be paid out of pocket by the consumer or by the seller.

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Definitions:

Culturally Competent

Refers to the ability of individuals and organizations to effectively interact, work, and understand cultures different from their own.

Nonprofit Administrations

The management and governance of organizations that aim to serve the public good without the goal of generating profit.

Maximize Profits

A strategy or objective focused on increasing a business's earnings to the highest possible level.

Culturally Competent

indicates the ability to understand, appreciate, and interact effectively with people from diverse cultural backgrounds.