Which of the following statement is true about tax? A. The burden shared by consumers and producers doesn’t change regardless of which party the tax is imposed on B. Market functions less efficiently, while not all suffer from a loss C. Both supply and demand curve have something to do with tax incidence D. all of the above

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A: a) Given: Qd = 300 - 6P Qs = -40 + 6P   At the equilibrium level, Qd = Qs 300-6P = -40+6P 340 = 12P…

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A:

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A: given equilibrium price = 5 $ tax = 0.50 $ after tax price = 5.25 $ price seller receives = 4.75 $

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