The supply of oil is more elastic than the demand for oil. If oil is taxed $10 per barrel, how will the tax be divided ?between the buyers and sellers The sellers will pay more of the tax than the buyers .aO The sellers and buyers will split the tax evenly.b O The sellers will pay the entire tax .c O The buyers will pay more of the tax than the sellers .dO
The supply of oil is more elastic than the demand for oil. If oil is taxed $10 per barrel, how will the tax be divided ?between the buyers and sellers The sellers will pay more of the tax than the buyers .aO The sellers and buyers will split the tax evenly.b O The sellers will pay the entire tax .c O The buyers will pay more of the tax than the sellers .dO
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 10PA
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