This Question: 2 pts 9 of 38 (3 complete) This Test: 50 p The graph shows the ma

Question

This Question: 2 pts 9 of 38 (3 complete) This Test: 50 p The graph shows the market for basketballs in which sellers are taxed S6 a ball Price (dollars per ball) 27 Draw a shape that shows the excess burden of the tax on basketballs s+tax The excess burden of the tax on basketballs is S million. 21 The supply of basketballs s morethan the demand for basketballs, and the pays most of more the tax. O A. inelastic; seller O B. elastic; seller OC. inelastic; buyer 17-16 T5 D. elastic; buyer 12 12 16

Explanation / Answer

1>The excess burden .... 16-15 million=$ 1 million

2> The supply...

A> inelastic, seller

Reason

The supply curve has higher slope than the demand curve, thus the sellers need to take more burden of them.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.