In the long run, both supply and demand tend to become more elastic. This suggests that,...

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In the long run, both supply and demand tend to become more elastic. This suggests that,...

In the long run, both supply and demand tend to become more elastic. This suggests that, in the long run, the

deadweight loss from a tax will be less than it is in the short run.

deadweight loss will be zero.

government will likely reduce tax rates.

tax revenue will be lower than it is in the short run.

tax revenue will be higher than it is in the short run.

business economics

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Answer 1

Answer #1

let u it comaider he demand and sup^ly Curves m the dhort run. Guay curves ana ulativelų melaotic. a tax of t Both he damand

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In the long run, both supply and demand tend to become more elastic. This suggests that,...