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Author Question: The burden of a tax is mainly borne by the buyer if: a. the supply of the good is perfectly price ... (Read 64 times)

EAugust

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on: Jun 30, 2018
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

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


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