When a tax is placed on the buyer of a product,what is the result
A)buyers pay less and sellers receive more
B)buyers pay less and sellers receive less
C)buyers pay more and sellers receive more
D)buyers pay more and sellers receive less

Question

Quizplus · Accepted Answer

When a tax is placed on the buyer of a product, the buyers have to pay more for the product, and this can result in decreased demand for the product. As a result, the seller may need to reduce the price to maintain demand for the product, and this may result in reduced profits for the seller. Thus, buyers pay more and sellers receive less.

When a Tax Is Placed on the Buyer of a Product,what