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Author Question: Refer to Figure 4-11.Suppose the market is initially in equilibrium at price P 1and then ... (Read 88 times)

cnetterville

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Figure 4-11










Refer to Figure 4-11.  Suppose the market is initially in equilibrium at price 
P
and then the government imposes a tax on every unit sold. Which of the following statements best describes the impact of the tax?


◦ The consumer will bear a greater share of the tax burden if the demand curve is 
D
1.
◦ The consumer's share of the tax burden is the same whether the demand curve is 
D
1 or 
D
2
.
◦ The consumer will bear a greater share of the tax burden if the demand curve is 
D
2.
◦ The consumer will bear the entire burden of the tax if the demand curve is 
D
1 and the producer will bear the entire burden of the tax if the demand curve is 
D
2.
« Last Edit: Mar 15, 2019 by Celeste »
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Marked as best answer by cnetterville on Mar 15, 2019

milbourne11

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cnetterville

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Reply 2 on: Mar 15, 2019
Excellent


lindahyatt42

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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