Figure 8-5
Suppose that the government imposes a tax of P3 - P1.
-Refer to Figure 8-5.The tax is levied on
A)buyers only.
B)sellers only.
C)both buyers and sellers.
D)This is impossible to determine from the figure.

Question

Figure 8-5
Suppose that the government imposes a tax of P3 - P1. 
-Refer to Figure 8-5.The tax is levied on
A)buyers only. 
B)sellers only. 
C)both buyers and sellers. 
D)This is impossible to determine from the figure.

Quizplus · Accepted Answer

Without the figure, it is impossible to determine who the tax is levied on.

Figure 8-5 Suppose That the Government Imposes a Tax of P3 -