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Use the following to answer questions:
Figure: Tax on Sellers
-(Figure: Tax on Sellers) If a $3 tax per unit purchased was placed on buyers instead of sellers, buyers would pay ________ and sellers would receive ________.
Legal Ability
Refers to the capacity of a party to enter into legally binding contracts and to be held accountable for the commitments made.
Unilateral Contract
A contract where one party makes a promise in exchange for an act by another party, completion of which constitutes acceptance of the contract.
Right to Sue
The legal right of an individual or entity to bring a lawsuit against another party in a court of law.
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