The Demand for Food Is Very Inelastic Compared to the Supply

question 38

Multiple Choice

The demand for food is very inelastic compared to the supply of food,so if a tax is imposed on the consumers of food,the tax incidence:

• A)is typically on consumers more than producers.
• B)is typically on producers more than consumers.
• C)is typically split equally between consumers and producers.
• D)cannot be determined without more information.

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