board/cont JSp?content.id-5003946. 1&dsplayName. SmartworkS%3A+Chapter, SSC . Ma

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board/cont JSp?content.id-5003946. 1&dsplayName. SmartworkS%3A+Chapter, SSC . Market . dacornes . and. tar. ncdincesa , ifoe ts (For Grade) Smartwork5 Chapter 5, Market Outcomes and Tax Incidence Homework arket Outcomes and T... 85% 09/27/18 This is a Multiple Choice question/It is worth 1 point/You have 1 of 3 attempts remaining/There is no attempt penalty Q See page 5 Question (1 point 3rd attempt If a tax is imposed on a good where both supply and demand are somewhat elastic, but demand is more elastic than supply, the burder of the tax will be borne Choose one: A by consumers alone. B. by producers alone C. mostly by producers but partially by consumers D. mostly by consumers but partially by producers E. by consumers and producers equally 2nd attempt 1st attempt

Explanation / Answer

Solution -

Option C. mostly by producers but partially by consumers. is Correct Option .

Reason - If the demand curve is fully flexible (horizontal) and the supply curve is fully flexible (vertical), the result of tax will not change in the equilibrium quantity and the customers have not made any changes by the price and the sellers have to bear the entire burden.

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