If the Demand Curve Is More Elastic Than the Supply

question 76

Multiple Choice

If the demand curve is more elastic than the supply curve,then:

• A) the buyers will bear a greater tax incidence than sellers.
• B) the sellers will bear a greater tax incidence than buyers.
• C) tax incidence will be shared equally by buyer and seller.
• D) None of these is true.

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Definitions:

Personal Freedom

The rights of individuals to make choices regarding their personal life, actions, and beliefs without undue interference or restriction from others or the government.

Government Interference

Government interference refers to actions by a governmental body that affect individual, business, or societal activities, sometimes perceived as undue or excessive regulation or intervention.

Establishment Clause

A clause in the First Amendment of the U.S. Constitution that prohibits the government from establishing an official religion, ensuring the separation of church and state.

Public Schools

Educational institutions that are funded and operated by government agencies to offer free education to students through taxes collected from the public.