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Author Question: If the elasticities of demand for alcohol, tobacco and gasoline are low and the elasticities of ... (Read 139 times)

Mimi

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If the elasticities of demand for alcohol, tobacco and gasoline are low and the elasticities of supply are high, then the burden of these taxes (excise taxes) falls more heavily on buyers than on sellers.
 
  Indicate whether the statement is true or false

Question 2

The relative price of a good is greater than the money price of a good.
 
  Indicate whether the statement is true or false



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Brummell1998

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Answer to Question 1

TRUE

Answer to Question 2

FALSE





 

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