Which of the following statements is TRUE?
A) When demand is elastic, buyers pay little of the tax because buyers can choose from many substitutes.
B) When demand is elastic, sellers pay little of the tax because buyers can choose from many substitutes.
C) A perfectly inelastic supply curve means that sellers will pay none of the tax.
D) A perfectly inelastic demand curve means that buyers will pay none of the tax.
Correct Answer:
Verified
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Figure: Imposition
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