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whatsupgirl16 whatsupgirl16
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5 years ago

Question 1.

The government proposes a tax on imported champagne. Buyers will bear the entire burden of the tax if the

• supply curve for imported champagne is vertical.

• demand curve for imported champagne is vertical.

• demand curve for imported champagne is horizontal.

• demand curve is downward sloping and the supply curve is upward sloping.

Question 2.

Suppose the demand curve for a product is vertical and the supply curve is upward sloping. If a per-unit tax is imposed in the market for this product,

• sellers bear the entire burden of the tax.

• buyers bear the entire burden of the tax.

• the tax burden will be shared equally between buyers and sellers.

• buyers share the burden of the tax with government.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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n00835996n00835996
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whatsupgirl16 Author
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#2
5 years ago
Exactly what I needed for my project, TYSM
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