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Loraine Loraine
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Posts: 4563
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9 years ago
At harvest time the supply of wheat is perfectly inelastic. If the government taxes wheat at $1 a bushel, then
A) the seller pays the entire tax.
B) the buyer pays the entire tax.
C) the seller and the buyer split the tax evenly.
D) the seller and the buyer split the tax but the seller pays more.
E) no one pays the tax because the wheat must be harvested or it will go to waste.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 391 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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#1
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9 years ago
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Loraine Author
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9 years ago
Good timing, thanks!
terriroberts96
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Yesterday
Just got PERFECT on my quiz
deathwing
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2 hours ago
You make an excellent tutor!
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