Suppose that the demand for and supply of a good are each neither perfectly inelastic nor perfectly elastic. If a tax on

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Suppose That The Demand For And Supply Of A Good Are Each Neither Perfectly Inelastic Nor Perfectly Elastic If A Tax On 1 (24.27 KiB) Viewed 12 times

Suppose that the demand for and supply of a good are each neither perfectly inelastic nor perfectly elastic. If a tax on sellers of the good is imposed, the tax is paid by: the buyers only. both the buyers and the sellers. the sellers only. the buyers only if demand for the good increases. 1 point (Figure: Market for Printed Houses) Consider the market for environmentally friendly three-dimensional printed houses that is shown in the figure. The government wants to encourage buyers to buy such houses and places a price ceiling on the market at $200,000 per house. After the implementation of the price ceiling, the market quantity sold falls houses. by Price (5 per house) $400,000 $300,000 $200,000 $100,000 300,000 100,000 O 400,000 100,000 200,000 Supply 400,000 Demand Quantity of houses