Category: Income Inequality

A. whether there is perfect or imperfect information
B. who is legally obliged to pay the tax
C. elasticities of demand and supply
D. how many producers there are:

A. will be perfectly inelastic in the long run. but upward sloping in the short run
B. is perfectly inelastic since there is a fixed amount of land
C. is perfectly elastic since there is fixed amount of land
D. will be upward sloping because as land becomes more valuable in once use, the amount of land made available for that use will increase