Homework 4 - Chapter 6
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Which statement is correct concerning the burden of a tax imposed on take - out food?
Buyers and sellers share the burden of the tax.
When a payroll tax is enacted, the wage received by workers
falls, and the waged paid by firms rises
Suppose that in a particular market, the demand curve is highly elastic, and the supply curve is highly inelastic. If a tax is imposed in this market, then the
sellers will bear a greater burden of the tax then the buyers.
