Business, 03.08.2021 01:00 dbn4everloved8

Suppose that the government imposes a $10 tax on Humbugs. The pre-tax price of Humbugs was $50, and neither supply nor demand is perfectly elastic or perfectly inelastic. If the government imposes the tax on sellers, which of the following is true? a. The full amount of the tax will be paid by the sellers.
b. The full amount of the tax will be paid by the buyers.
c. The price of Humbugs will rise by less than $10.
d. The price of Humbugs will rise to $60.
The equilibrium quantity of Humbugs will not change.
The incidence of a tax is determined by: .
a. what the government requires firms to charge.
b. the relative elasticity of the supply and demand curves.
c. whether the tax is imposed on buyers or sellers.
d. whether demand is elastic or inelastic.
e. whether supply is elastic or inelastic.

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Suppose that the government imposes a $10 tax on Humbugs. The pre-tax price of Humbugs was $50, and...

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