Suppose the Demand Curve for a Product Is Vertical and the Supply

question 155

Multiple Choice

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

• A)sellers bear the entire burden of the tax.
• B)buyers bear the entire burden of the tax.
• C)the tax burden will be shared equally between buyers and sellers.
• D)buyers share the burden of the tax with government.

---

Definitions:

Speaking Out of Turn

Refers to the act of speaking when it is not one's turn, often considered impolite or disrupting in conversations and meetings.

Scolded

Reprimanded or criticized harshly.

Idiom

An idiom is a phrase or expression whose meaning cannot be understood from the literal definitions of its individual words but represents a figurative, non-literal meaning known to speakers of the language.

Adhere

To stick firmly to a surface or belief, to follow strictly a set of rules or guidelines.