Author Question: The burden of a tax is mainly borne by the buyer if: a. the supply of the good is perfectly price ... (Read 60 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
The burden of a tax is mainly borne by the buyer if:
 a. the supply of the good is perfectly price elastic.
  b. the supply of the good is relatively price elastic.
  c. the demand for the good is relatively price elastic.
  d. the demand for the good is relatively price inelastic.
  e. the demand for the good is perfectly price elastic.

Question 2

For a given product, income elasticity of demand relates the percentage change in:
 a. quantity demanded to the percentage change in income.
  b. quantity demanded to the absolute change in income.
  c. income to the percentage change in price.
  d. price to the absolute change in quantity demanded.
  e. income to the percentage change in quantity available for sale.



fffftttt

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

d

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

For a complete list of videos, visit our video library