The more elastic the supply curve, _____
a. the greater the tax evasion
b. the more suppliers have to bear the tax burden
c. the more suppliers can shift the tax burden to demanders
d. the more demanders shift the supply curve
c
You might also like to view...
The principle of comparative advantage states that a product should be exported by
a. the country with the lowest dollar cost b. the country with the lowest labor cost c. the country with the lowest opportunity cost d. the country that has more of that product e. all of the above
Which of following is an example of a homogeneous product?
A) Gasoline B) Copper C) Personal computers D) Winter parkas E) both A and B
Considering production decisions for only the short run, a firm producing where MC = MR should stop producing if
a. its losses are less than TFC b. its losses equal TFC c. its losses are greater than TFC d. TR is less than TC e. TR exceeds TVC
For government, most market activity can be explained by the goal of:
A. Welfare maximization. B. Social responsibility. C. Utility maximization. D. Charitable responsibility.