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Author Question: Consider an excise tax imposed on daily parking charges in the downtown of a small city. Before the ... (Read 25 times)

mmmmm

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on: Oct 12, 2022
Consider an excise tax imposed on daily parking charges in the downtown of a small city. Before the imposition of the tax, equilibrium price and quantity are $15 and 100 cars parked per day. (P = $15, Q = 100). The city government then imposes a tax of $3 per car parked per day. Market equilibrium adjusts to P = $16 and Q = 95. Which of the following statements about the burden of the tax is correct?
◦ The burden of the tax is shared equally by consumers and sellers.
◦ Supply is less elastic relative to demand and therefore more of the burden falls on the seller.
◦ Supply is less elastic relative to demand and therefore more of the burden falls on the consumer.
◦ Supply is more elastic relative to demand and therefore more of the burden falls on the consumer.
◦ Supply is more elastic relative to demand and therefore more of the burden falls on the seller.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by mmmmm on Oct 12, 2022

knguyen

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mmmmm

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

fatboyy09

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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