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"For a given supply curve, the excess burden of a tax will be greater when the demand for a product ...

coolcat

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"For a given supply curve, the excess burden of a tax will be greater when the demand for a product ...

"For a given supply curve, the excess burden of a tax will be greater when the demand for a product is less elastic than when the demand is more elastic." This statement is

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incorrect. When demand is less elastic, the burden of the tax is smaller than when the demand is more elastic.

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incorrect because the incidence of the tax, not the burden of the tax, is affected by the elasticity of demand.

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correct.

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incorrect. The statement confuses demand with quantity demanded.

Textbook

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

Read 270 times

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brigettelearn

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More solutions for this book are available here

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coolcat Author

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Thanks

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Good timing, thanks!

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