A Tax Is Imposed on a Market with Elastic Demand

question 94

Multiple Choice

A tax is imposed on a market with elastic demand and inelastic supply.Who bears most of the burden of the tax

• A)Buyers will bear most of the burden of the tax.
• B)Sellers will bear most of the burden of the tax.
• C)The burden of the tax will be shared equally between buyers and sellers.
• D)The burden of the tax will be shared equally between buyers and the government.

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Definitions:

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