A sales tax will be divided so that A) the buyers pay the full ...

[james0929]

A sales tax will be divided so that
 
  A) the buyers pay the full amount if supply is perfectly inelastic.
  B) the sellers pay the full amount if supply is perfectly inelastic.
  C) the sellers pay the full amount if supply is perfectly elastic.
  D) both buyers and sellers pay some of the tax if supply is perfectly elastic.

Question 2

The figure above shows a monopoly firm's demand curve. At point u in the figure, the demand facing the monopoly is
 
  A) elastic.
  B) unit elastic.
  C) inelastic.
  D) less than the supply.

[katkat_flores]

Answer to Question 1

B

Answer to Question 2

C

[james0929]

Thanks for the timely response, appreciate it

[Missbam101]

Wow, this really help