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If the price of a product rises by an amount less than the established tax, 1. Suppliers bear the tax 2. sellers bear the tax 3. buyers and sellers share the burden of tax 4. Buyers bear the tax

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the price of a product rises by an amount less than the established tax,

1. Suppliers bear the tax

2. sellers bear the tax

3. buyers and sellers share the burden of tax

4. Buyers bear the tax

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