The burden of a tax is mainly borne by the buyer if:
A) the supply of the good is perfectly price elastic.
B) if the supply of the good is relatively price elastic.
C) if the demand for the good is relatively price elastic.
D) if the demand for the good is relatively price inelastic.
E) if the demand for the good is perfectly price elastic.
Correct Answer:
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Q50: The figure given below shows the income-leisure
Q51: The following figures show the demand and
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Q55: Which of the following is true of
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Q60: The figure given below shows the demand
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