Multiple Choice
If a tax is imposed on a market with inelastic demand and elastic supply,then
A) buyers will bear most of the burden of the tax.
B) sellers will bear most of the burden of the tax.
C) the burden of the tax will be shared equally between buyers and sellers.
D) it is impossible to determine how the burden of the tax will be shared.
Correct Answer:
Verified
Correct Answer:
Verified
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