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coolcat coolcat
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4 years ago

"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



▸

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



▸

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



▸

correct.



▸

incorrect. The statement confuses demand with quantity demanded.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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brigettelearnbrigettelearn
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4 years ago
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