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An Excise Tax Levied on a Product Will Impose a Smaller

Question 234

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An excise tax levied on a product will impose a smaller relative burden on consumers (and a larger relative burden on sellers) when


A) the supply of the product is relatively inelastic.
B) the supply of the product is relatively elastic.
C) the demand for the product is relatively elastic.
D) either a or c is true.

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