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- The more elastic the supply of a product, the more likely it is that the a.burden of a tax on the product will fall equally on both buyers and sellers. b.burden of a tax on the product will fall on sellers. c.deadweight loss of the tax will be smaller. d.burden of a tax on the product will fall on buyers.How do the relative elasticities of supply and demand determine tax or subsidy incidence?Determine burden of the tax (or the incidence of the tax that falls on consumers and producer). Who gets most of the burden of the tax. Answer on the basis of elasticity. How much tax revenue is expected by the government to be raised for this good per year?
- refer to the graph shown. given the same supply elasticity, the burden of a 10 percent tax would be borne the most by the consumer in segWhat is the tax incidence of an excise tax when demand is highly inelastic and highly elastic?Can you explain why I got this wrong? I thought that if the supply was more inelastic then the employers would bear more of the tax? Im confused.
- Explain how changing the price elasticity of demand from elastic to inelastic affects the consumer's economic burden of a tax and the government's collected tax revenues.q17- The greater the elasticities of demand and supply the: Select one: a. greater the deadweight loss from a tax b. smaller the deadweight loss from a tax c. less intrusive a tax will be on a market d. more equitable the distribution of a tax between buyers and sellersGovernment levied a tax on good A. The less elastic the demand is, the greater or the smaller the tax burden consumers bear? Also, is the after-tax equilibrium quantity the greater or smaller? Consumers’ tax burden: After-tax equilibrium quantity:
- If supply is less elastic than demand when a market is in equilibrium, then taxing consumers for every unit of a good purchased will ultimately cause the tax burden to fall mostly onHow a tax burden is divided between consumers and producers is called tax incidence. Consumers bear most of the tax burden when: Group of answer choices Demand is more elastic than supply The firm decides to pass none of the tax on to the consumer via a higher price. Supply is more elastic than demand. Cross elasticity of demand is .35When supply is perfectly elastic, who bears the burden of tax? Select one: a. producers b. consumers c. producers and consumers d. sellers
