Solved

If a Tax of 5 Cents a Tomato Lowers the Price

Question 111

Multiple Choice

If a tax of 5 cents a tomato lowers the price received by tomato sellers by 5 cents a tomato,then the supply of tomatoes is perfectly ________ and the seller pays ________ the tax.


A) inelastic; all
B) elastic; all
C) inelastic; some of
D) inelastic; none of
E) elastic; none of

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q107: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -The above figure

Q108: For a given elasticity of demand,the less

Q109: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" The figure

Q110: The demand for gasoline is inelastic and

Q112: The deadweight loss of a tax on

Q113: The imposition of _ shifts the labor

Q114: The incidence of a tax refers to<br>A)

Q115: When a tax is imposed on a

Q116: The government once imposed a luxury tax

Q124: Which would be a better source of