Figure 15.2
Figure 15.2 shows a demand curve and two sets of supply curves, one set more elastic than the other.
-Refer to Figure 15.2.If the government imposes an excise tax of $1.00 on every unit sold, the consumer's burden of the tax
A) is greater under the more elastic supply curve S₀.
B) is greater under the less elastic supply curve S₀.
C) is greater under the less elastic supply curve S₁.
D) is the same under either supply curve because there is a single demand curve that captures buyers' market behavior.
Correct Answer:
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