If the government wants to raise tax revenue and shift most of the tax burden to the sellers it would impose a tax on a good with a
a. flat (elastic) demand curve and a steep (inelastic) supply curve.
b. steep (inelastic) demand curve and a flat (elastic) supply curve.
c. steep (inelastic) demand curve and steep (inelastic) supply curve.
d. flat (elastic) demand curve and a flat (elastic) supply curve.
A
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An increase in the number of firms in a market will cause the quantity of a good supplied to increase
Indicate whether the statement is true or false
Using the seasonal business cycle as your guide, during which quarter would you be most likely to expect an increase in your corporation's sales?
A) The first quarter of the year (January-March) B) The second quarter of the year (April-June) C) The third quarter of the year (July-September) D) The fourth quarter of the year (October-December)
For a bank to earn as much profit as possible, its excess reserves should be:
A. equal to its required reserves. B. as small as possible. C. less than its vault cash. D. growing at a constant rate.
An increase in the wage rate will change
A. the amount of labor employed, and it may also change the amount of other inputs employed. B. the price the firm charges for the product, but it will not affect the demand for any of the inputs. C. only the amount of labor hired. D. the firm?s profit-maximizing level output, but not its usage of inputs.