Answer Happy

Question 9 1 pts Imagine that a tax is placed on a particular good. Which of the following situations is associated with producers bearing a larger portion of the tax than consumers? (You can assume the supply curve is the same in all the choices) An relatively ELASTIC demand curve, which means these consumers will reduce their consumption of a good by a LARGE amount in response to a price change An relatively INELASTIC demand curve, which means these consumers will reduce their consumption of a good by a LARGE amount in response to a price change An relatively ELASTIC demand curve, which means these consumers will reduce their consumption of a good by a SMALL amount in response to a price change An relatively INELASTIC demand curve, which means these consumers will reduce their consumption of a good by a SMALL amount in response to a price change
Question 10 1 pts Which of the following statements best describes why taxes may create deadweight loss? Consumers have to pay a portion of the tax Producers have to pay a portion of the tax The government collects tax revenue Taxes create a disincentive to produce and consume goods