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Loraine Loraine
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9 years ago
The demand for gasoline is inelastic and the supply of gasoline is elastic. Therefore,
A) sellers bear most of the incidence of a tax on gasoline.
B) buyers bear most of the incidence of a tax on gasoline.
C) the government bears most of the incidence of a tax on gasoline.
D) the incidence of a tax on gasoline depends if the tax is imposed on sellers or on buyers.
E) None of the above answers is correct.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 675 times
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SydnieSydnie
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8 years ago
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Loraine Author
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Thanks
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This site is awesome
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