An excise tax levied on a product will impose a smaller relative burden on consumers (and a larger relative burden on sellers) when: Group of answer choices the supply of the product is relatively inelastic. the supply of the product is relatively elastic. the demand for the product is relatively elastic. either a or c is true.

the demand for the product is relatively elastic

Explanation:

When a product is said to be Elastic, it means that for every 1% change in price, there is a more than 1% change in the Quantity Demanded of that product. For example, if the price of a good rises by 2% and the Quantity Demanded drops by 2.5% that good is considered Elastic.

Now, if an excise tax is intruduced on a good that is Elastic that means that the price would rise and the demand would drop. This will impose a larger burden on suppliers because in an attempt to keep the price relatively stable, they will absorb most of the tax thus reducing their profitability in order to avoid a more than proportional decrease in Quantity Demanded.

answer; i do believe that the correct answer is (d) referrals from

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy