Author Question: Which of the following is true? i. If demand is perfectly elastic, the tax creates no deadweight ... (Read 20 times)

theo · **on:** May 24, 2019

Which of the following is true?
i. If demand is perfectly elastic, the tax creates no deadweight loss.
ii. The more elastic the supply of a factor of production, the greater is the deadweight loss from an income tax.
iii. A tax is regressive if the average tax rate rises with income.
◦ only i
◦ only ii
◦ only iii
◦ ii and iii
◦ i and ii

babybsemail · **Reply #1 on:** May 24, 2019

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