Would you expect a tax on cigarettes to be more effective over the long run or the short run?
A) Long run because demand becomes more elastic over time
B) Long run because demand becomes less elastic over time
C) Short run because demand becomes more elastic over time
D) Short run because demand becomes less elastic over time
Correct Answer:
Verified
Q58: A tax wedge:
A)refers to the difference in
Q60: When a tax is placed on sellers:
A)sellers
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Q117: Does a tax on sellers affect the
Q124: If the supply curve is more inelastic
Q133: When a tax is placed on buyers:
A)
Q148: Does a subsidy to sellers affect the
Q150: Who benefits from a subsidy to buyers?
A)
Q153: If the government wants to encourage the
Q156: In general,price controls have a:
A) larger effect
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