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Author Question: A tax on candy will be paid by ______. A. only buyers if the demand for candy is inelastic B. ... (Read 45 times)

Brittanyd9008

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on: Jun 29, 2018
A tax on candy will be paid by ______.
 
  A. only buyers if the demand for candy is inelastic
  B. only sellers if the supply for candy is inelastic
  C. buyers and sellers if the demand for candy is elastic
  D. only buyers if the supply of candy is elastic

Question 2

In a production possibilities frontier model, a point ________ the frontier is productively inefficient.
 
  A) outside B) at either intercept of
  C) inside D) along
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Dnite

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C While sellers pay more of the tax if demand is elastic, both buyers and sellers part of the tax.

Answer to Question 2

C


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