Fill in the blanks below using one of two choices: GREATER or SMALLER.
a. The more inelastic the demand curve for a product (holding the slope of supply constant), the ________ the economic burden of the tax on the buyer.
b. The more elastic the demand curve for a product (holding the slope of supply constant), the ________ the economic burden of the tax on the seller.
c. The more inelastic the supply curve for a product (holding the slope of demand constant), the ________ the economic burden of the tax on the seller.
d. The more elastic the supply curve for a product (holding the slope of demand constant), the ________ the economic burden of the tax on the seller.

Question

Quizplus · Accepted Answer

The Answer of Fill in the blanks below using one of two choices: GREATER or SMALLER.
a. The more inelastic the demand curve for a product (holding the slope of supply constant), the ________ the economic burden of the tax on the buyer.
b. The more elastic the demand curve for a product (holding the slope of supply constant), the ________ the economic burden of the tax on the seller.
c. The more inelastic the supply curve for a product (holding the slope of demand constant), the ________ the economic burden of the tax on the seller.
d. The more elastic the supply curve for a product (holding the slope of demand constant), the ________ the economic burden of the tax on the seller.

Fill in the Blanks Below Using One of Two Choices