In a Market Where Supply and Demand Are Both Somewhat

question 69

Multiple Choice

In a market where supply and demand are both somewhat elastic,but demand is more elastic than supply,consumers will bear less of the burden of a tax because

• A) consumers have a greater ability to change their behavior in response to the tax than producers do.
• B) producers are more likely to be responsible for paying the tax out of pocket.
• C) both parties have equal ability to change their behavior in response to the tax.
• D) consumers will experience lower prices as a result of the tax.
• E) producers have a greater ability to change their behavior in response to the tax than consumers do.

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Definitions:

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