Author Question: The more elastic the demand curve, _____. a. the smaller the proportion of a tax paid by the ... (Read 62 times)

MGLQZ · **on:** Jul 1, 2018

The more elastic the demand curve, _____.

a. the smaller the proportion of a tax paid by the suppliers
b. the smaller the proportion of a tax paid by the demanders
c. the more elastic the supply curve
d. the more the tax can be shifted to demanders

Question 2

One difference between a monopoly and a competitive firm is that

A) a monopoly is a price taker.
B) a monopoly maximizes profit by setting marginal revenue equal to marginal cost.
C) a monopoly faces a downward sloping demand curve.
D) None of the above.