If the supply of land was perfectly inelastic,a tax on land would be paid

Name: If the supply of land was perfectly inelastic,a tax on land would be paid
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Since the supply of land is perfectly inelastic, the quantity supplied cannot be changed even if the tax is imposed. Therefore, the sellers will bear the entire burden of the tax as they cannot shift it onto the buyers by increasing the price. Hence, the tax will be entirely paid by the sellers.

If the Supply of Land Was Perfectly Inelastic,a Tax on Land