Which of the Following Is True

question 171

Multiple Choice

Which of the following is true?
i.If demand is perfectly elastic,the tax creates no deadweight loss.
ii.The more elastic the supply of a factor of production,the greater is the deadweight loss from an income tax.
iii.A tax is regressive if the average tax rate rises with income.

• A) Only i
• B) Only ii
• C) Only iii
• D) ii and iii
• E) i and ii

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