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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 17
When a good is taxed, the burden of the tax falls mainly on consumers if
A) the tax is levied on consumers.
B) the tax is levied on producers.
C) supply is inelastic, and demand is elastic.
D) supply is elastic, and demand is inelastic.
A) the tax is levied on consumers.
B) the tax is levied on producers.
C) supply is inelastic, and demand is elastic.
D) supply is elastic, and demand is inelastic.
Explanation
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Tax is imposed on a product and its inci...
Essentials of Economics 7th Edition by Gregory Mankiw
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