The incidence of a tax
A) Falls entirely on consumers if supply is perfectly inelastic
B) Falls entirely on consumers if demand is perfectly elastic
C) Is shared by suppliers and consumers if demand is perfectly elastic
D) Falls entirely on suppliers if demand is perfectly elastic
Correct Answer:
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Q13: Suppose the market demand function for ice
Q14: The incidence of a tax
A) Falls entirely
Q15: Suppose the market demand function for ice
Q16: Suppose the market demand function for ice
Q17: Suppose the market demand function for ice
Q19: The incidence of a tax
A) Indicates how
Q20: Suppose the market demand function for ice
Q21: A price floor
A) Establishes a maximum price
Q22: A subsidy
A) Is a payment that decreases
Q23: A production quota program
A) Imposes limits on
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