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Author Question: In the long run, the greater burden of a specific tax will usually be absorbed by a. consumers. b. ... (Read 28 times)

dmcintosh

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on: Jul 1, 2018
In the long run, the greater burden of a specific tax will usually be absorbed by
 a. consumers.
  b. the partyconsumers or producerswith the more elastic demand/supply curve.
  c. the party with the least elastic demand/supply curve.
  d. shareholders and employees of the firm in the form of reduced dividends and wages.

Question 2

In the short run, the incidence of a sales tax is
 a. wholly absorbed by the producer.
  b. shared between the consumer and the producer.
  c. deferred until the market is able to re-establish an equilibrium price.
  d. wholly absorbed by the consumer.


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xthemafja

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

b


dmcintosh

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

nanny

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Reply 3 on: Yesterday
:D TYSM

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