Suppose the Demand Curve for a Product Is Downward Sloping

question 58

Multiple Choice

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

• A)sellers bear the entire burden of the tax.
• B)the tax burden will be shared among the government,buyers and sellers.
• C)buyers bear the entire burden of the tax.
• D)the tax burden will be shared by buyers and sellers.

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Definitions:

Dormant

A state of inactivity or minimal activity, often used to describe a business that is not currently active but still exists legally.

DVD Drives

A device that reads and, in some cases, writes data to a DVD disc, used in computers, entertainment systems, and some recording and playback hardware.

Input Devices

Hardware components used to enter data or commands into a computer system, such as keyboards, mice, scanners, and touchscreens.

Monitors

Devices used to display video output from computers or other video sources, serving as an interface for users to interact with digital content.