Homework Answers
a) "A"
The more inelastic the demand for the product the more likely that the tax burden will fall on the buyer in the market.
b) "C"
This will increase the price of the product and the price of the resources that are used to produce this product will also rise.
c) "C"
It will decrease the demand increase the price for the buyer and receive the amount that the seller receives.
d) "D"
it is proportional that is 4% for all the income group.
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