Business Economics
Quick practice
Question 1 of 5
If the elasticity of demand for a good is greater than elasticity of supply for the good, then :
A
The burden of tax on buyers would be lower than that on sellers
B
The burden of tax on buyers would be equal to that on sellers
C
The burden of tax on buyers would be higher than that on sellers
D
Incidence cannot be shifted
Concepts
Intro to Business Economics
Theory of Demand & Supply
Theory of Production & Cost
Price Determination in Markets
Business Cycles
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