college

posted by .

If a tax is placed on the producers of good Y, the consumers of good Y will end up paying the greatest amount of the tax if the elasticity of demand for good Y is

Elastic.
Inelastic.
Unit elastic.

  • college -

    Please label the School Subject correctly so the proper teacher reads your post. Business, for example?

    Sra

  • college -

    elastic

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Ecconomics

    Price elasticity of demand.Tell whether is elastic,perfectly inelastic,perfectly elastic, inelastic,or unit elastic. And what would happen to total revenue if a firm raised its price in each elasticity range identified.a.Ed=2.5 b.Ed=1.0 …
  2. Economics- please check

    Please check to see if my answers are correct. Complete each sentence by choosing the correct answer from the list of terms below. You will not use all of the terms. *normal good *complements *income effect *demand curve *ineleastic …
  3. Microeconomics

    This is a 5 part question; (a-e)The question reads: Suppose that a market is described by the following supply & demand equations: Qs=2P & Qd=300-P a) Solve for the equalibrium price & quantity. (I think I understand this process.) …
  4. Economics: Price Elasticity

    Please check my answers whether they are correct or not. If not, please help me why they are wrong. Thank you. Question 1: Point: A (300, 1000) Point B: (200, 1200) According to the midpoint method, the price elasticity of demand for …
  5. Mircoeconomics: Elasticity

    Please help! I have a mid-term test in a couple of minutes... -------------- If the demand for some good fluctuates, but supply is constant, then which of the following combinations would generally yield the greatest quantity fluctuations?
  6. Economic

    The market for Good X can be depicted with the following demand and supply equations: Demand: P = 50 – 1/2Q Supply: P = 1/3Q Where P is price per unit and Q represents quantity in units. Policy makers plan on imposing a $1 per unit …
  7. Economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good?
  8. Economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good?
  9. College economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good?
  10. economics

    If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax. For example, if the price of a chocolate bar is $5 and the government imposes …

More Similar Questions