Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic.So,imposing a tax on the good results in ________ in the price received and kept by sellers and a ________ in the price paid by buyers.

Question

Quizplus · Accepted Answer

When a tax is imposed on a good, the price received by sellers falls, and the price paid by buyers rises, as the tax burden is shared between buyers and sellers.

Neither the Supply of nor Demand for a Good Is