question archive In the widget market, it is known that producers are relatively responsive to price changes, as compared to consumers
In the widget market, it is known that producers are relatively responsive to price changes, as compared to consumers
Subject:EconomicsPrice:2.88 Bought3
In the widget market, it is known that producers are relatively responsive to price changes, as compared to consumers.
The government places a $5 per unit tax on sales of widgets. Which of the following is the most likely result?
A. Consumers and producers will split the tax evenly.
B. Most of the tax will be paid by producers.
C. Most of the tax will be paid by consumers.
D. Who pays the tax will be determined by the government.
Option 1
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Option 2
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