Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134079271
Author: CASE
Publisher: PEARSON
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Chapter 19, Problem 3.1P
To determine

Identify the role of the taxes on necessities.

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How 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 .35
When supply and demand are equally elastic:     producers carry the majority of the tax burden.   consumers carry the majority of the tax burden.   producers and consumers carry an equal amount of the tax burden.   consumers carry all of the tax burden.
Why does taxation create an excess burden?

Chapter 19 Solutions

Principles of Economics (12th Edition)

Ch. 19 - Prob. 1.1PCh. 19 - Prob. 1.2PCh. 19 - Prob. 1.3PCh. 19 - Prob. 1.4PCh. 19 - Prob. 2.1PCh. 19 - Prob. 2.2PCh. 19 - Prob. 2.3PCh. 19 - Prob. 2.4PCh. 19 - Prob. 2.5PCh. 19 - Prob. 3.1P
Ch. 19 - Prob. 3.2PCh. 19 - Prob. 3.3PCh. 19 - Prob. 4.1PCh. 19 - Prob. 5.1PCh. 19 - Prob. 6.1PCh. 19 - Prob. 6.2P
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