Suppose the Demand Curve for a Product Is Downward Sloping

question 58

Multiple Choice

Suppose the demand curve for a product is downward sloping and the supply curve is upward sloping.If a unit tax is imposed in the market for this product

• A)sellers bear the entire burden of the tax.
• B)the tax burden will be shared among the government,buyers and sellers.
• C)buyers bear the entire burden of the tax.
• D)the tax burden will be shared by buyers and sellers.

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Definitions:

Cardia

The region where the esophagus connects to the stomach, acting as a crucial entry point for food into the stomach.

Body

Refers to the physical structure of an organism, including its bones, muscles, organs, and other tissues.

Fundus

The upper part of an organ, often referring to the upper portion of the stomach or the uterus.

Pylorus

The part of the stomach that connects to the duodenum and acts as a valve to control the flow of partially digested food.