If the Demand Curve Is Downward-Sloping and Supply Is Perfectly

Multiple Choice

If the demand curve is downward-sloping and supply is perfectly elastic,then the burden of an excise tax is:

A) borne entirely by consumers.
B) borne entirely by producers.
C) shared by consumers and producers,with the burden falling mainly on consumers.
D) shared by consumers and producers,with the burden falling mainly on producers.