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Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following statements is correct?

▸ Consumers bear the full cost of the tax.

▸ Both producers and consumers equally share the tax.

▸ Producers bear the full cost of the tax.

▸ Consumers bear a relatively large share of the tax, compared to producers.
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A month ago
Consumers bear the full cost of the tax.
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A month ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. If the supply curve were positively sloped:

▸ both producers and consumers share the tax.

▸ consumers would bear the full cost of the tax.

▸ producers would bear the full cost of the tax.

▸ There is not sufficient information.
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A month ago
both producers and consumers share the tax.
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Slight Smile Good luck on the rest
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