In Which of the Given Market Situations Will the Burden

question 171

Multiple Choice

In which of the given market situations will the burden of a tax be borne more or less equally between buyers and sellers?

• A)2 and 4
• B)1 and 3
• C)all of these situations

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Definitions:

Determinant

A scalar value that can be computed from the elements of a square matrix and provides information about the matrix, such as whether it is invertible.

Minors

Submatrices formed by deleting one or more rows or columns from a matrix, used in the calculation of determinants and inverses.

Augmented Matrix

A matrix created by adding the columns of two specified matrices together, usually representing a system of linear equations.

Back-substitution

A method used in algebra to solve systems of equations by solving one equation first and then substituting its value into other equations.