An excise tax levied on a product will impose a larger relative burden on consumers (and a smaller 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 inelastic.
D) either b or c is true

Question

Quizplus · Accepted Answer

The Answer of An excise tax levied on a product will impose a larger relative burden on consumers (and a smaller 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 inelastic.
D) either b or c is true

An Excise Tax Levied on a Product Will Impose a Larger