Giving in to the demand of protestors,suppose the French government reduces the tax on gasoline by 15 percent.Neither the demand for gasoline nor the supply of gasoline is perfectly elastic or inelastic.As a result of the tax cut,the price for a gallon of gasoline paid by buyers
A) falls by 15 percent.
B) rises by 15 percent.
C) falls by less than 15 percent.
D) rises by less than 15 percent.
E) falls by more than 15 percent.
Correct Answer:
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Q2: To calculate the revenue government receives when
Q3: Tax incidence is the
A) burden buyers have
Q4: Neither the demand nor the supply of
Q5: Tax incidence is the
A) dollar amount of
Q6: The demand curve for pizza is downward
Q7: Sales taxes are usually collected from sellers,who
Q8: The imposition of a tax on a
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