Multiple Choice
When a tax is imposed on the suppliers of a good or service, then
A) in general, the producers pay all the tax.
B) in general, the consumers pay all the tax.
C) the consumers pay a larger part of the tax as the elasticity of demand for the product becomes smaller.
D) the consumers pay a larger part of the tax as the elasticity of demand for the product becomes larger.
Correct Answer:
Verified
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