When a tax is collected from the buyers in a market, ?

Related Mcqs:

Which of the following statements is true if the government places a price ceiling on petrol at Rs150 per litre and the equilibrium price is Rs100 per litre ?

A. A significant increase in the demand for petrol could cause the price ceiling to become a binding constraint. B. A significant increase in the supply for petrol could cause the price ceiling to become a binding constraint. C. There will be a shortage of petrol D. There will be surplus of petrol...

Which of the following takes place when a tax is placed a good ?

A. a decrease in the price buyers pay, an increase in the price sellers receive, and a decrease in the quantity sold B. an increase in the price buyers pay a decrease in the price sellers receive, and an increase in the quantity sold C. a decrease in the price buyers pay, an increase in … Which of the following takes place when a tax is placed a good ?Read More...

The burden of a tax falls more heavily on the buyers in a market when ?

A. both supply and demand are inelastic B. demand is elastic, and supply are inelastic C. both supply and demand are elastic D. demand is inelastic, and supply is elastic...

For which of the following products would the burden of a tax likely fall more heavily on the sellers ?

A. Clothing B. food C. housing D. entertainment...

A binding price ceiling creates?

A. a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price B. a surplus C. a shortage D. an equilibrium...