Draw another supply curve S to indicate a $1 tax increase. (a) How much of this tax is borne by the buyer? (b) How much of this tax is borne by the seller? 
Definitions:
Umbrella Liability
A package of several kinds of insurance.
Liability Insurance
A type of insurance that provides protection against claims resulting from injuries and damage to people or property.
Economical Premium
A cost-effective payment or fee, usually for insurance, that provides value or savings over time.
Coverage
The extent to which insurance policies or financial protection plans will compensate for losses or damages incurred.
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