# Economics questions

Question # 00003023 Posted By: neil2103 Updated on: 10/31/2013 04:10 AM Due on: 10/31/2013
Subject Economics Topic General Economics Tutorials:
Question

51. When a tax is placed on the buyers of lemonade,

 a. the sellers bear the entire burden of the tax. b. the buyers bear the entire burden of the tax. c. the burden of the tax will be always be equally divided between the buyers and the sellers. d. the burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal.

52. If a tax is levied on the buyers of sugar, then

 a. buyers will bear the entire burden of the tax. b. sellers will bear the entire burden of the tax. c. buyers and sellers will share the burden of the tax. d. the government will bear the entire burden of the tax.

53. If the government passes a law requiring buyers of motorcycles to send \$500 to the government for every motorcycle they buy, then

 a. the demand curve for motorcycles shifts downward by \$500. b. buyers of motorcycles pay \$500 more per motorcycle than they were paying before the tax. c. sellers of motorcycles are unaffected by the tax. d. All of the above are correct.

54. Suppose buyers of liquor are required to send \$1.00 to the government for every bottle of liquor they buy. Further, suppose this tax causes the effective price received by sellers of liquor to fall by \$0.80 per bottle. Which of the following statements is correct?

 a. This tax causes the demand curve for liquor to shift downward by \$1.00 at each quantity of liquor. b. The price paid by buyers is \$0.20 per bottle more than it was before the tax. c. Eighty percent of the burden of the tax falls on sellers. d. All of the above are correct.

55. Suppose buyers of liquor are required to send \$1.00 to the government for every bottle of liquor they buy. Further, suppose this tax causes the effective price received by sellers of liquor to fall by \$0.60 per bottle. Which of the following statements is correct?

 a. This tax causes the supply curve for liquor to shift upward by \$1.00 at each quantity of liquor. b. The price paid by buyers is \$0.40 per bottle more than it was before the tax. c. Sixty percent of the burden of the tax falls on buyers. d. All of the above are correct.

56. Suppose there is currently a tax of \$50 per ticket on airline tickets. Buyers of airline tickets are required to pay the tax to the government. If the tax is reduced from \$50 per ticket to \$30 per ticket, then

 a. the demand curve will shift upward by \$20, and the price paid by buyers will decrease by less than \$20. b. the demand curve will shift upward by \$20, and the price paid by buyers will decrease by \$20. c. the supply curve will shift downward by \$20, and the effective price received by sellers will increase by less than \$20. d. the supply curve will shift downward by \$20, and the effective price received by sellers will increase by \$20.

57. Suppose there is currently a tax of \$50 per ticket on airline tickets. Buyers of airline tickets are required to pay the tax to the government. If the tax is reduced from \$50 per ticket to \$30 per ticket, then

 a. the demand curve will shift upward by \$20, and the effective price received by sellers will increase by \$20. b. the demand curve will shift upward by \$20, and the effective price received by sellers will increase by less than \$20. c. the supply curve will shift downward by \$20, and the price paid by buyers will decrease by \$20. d. the supply curve will shift downward by \$20, and the price paid by buyers will decrease by less than \$20.

58. When a tax is levied on buyers of tea,

 a. buyers of tea and sellers of tea both are made worse off. b. buyers of tea are made worse off and the well-being of sellers is unaffected. c. buyers of tea are made worse off and sellers of tea are made better off. d. the well-being of both buyers of tea and sellers of tea is unaffected.

59. Which of the following statements is correct concerning the burden of a tax imposed on candles?

 a. Buyers bear the entire burden of the tax. b. Sellers bear the entire burden of the tax. c. Buyers and sellers share the burden of the tax. d. We have to know whether it is the buyers or the sellers that are required to pay the tax to the government in order to make this determination.

60. Which of the following is not correct?

 a. Taxes levied on sellers and taxes levied on buyers are not equivalent. b. A tax places a wedge between the price that buyers pay and the price that sellers receive. c. The wedge between the buyersâ€™ price and the sellersâ€™ price is the same, regardless of whether the tax is levied on buyers or sellers. d. In the new after-tax equilibrium, buyers and sellers share the burden of the tax.

61. If the government removes a tax on sellers of a good and imposes the same tax on buyers of the good, then the price paid by buyers will

 a. increase and the price received by sellers will increase. b. increase and the price received by sellers will not change. c. not change and the price received by sellers will increase. d. not change and the price received by sellers will not change.

62. If the government removes a tax on buyers of a good and imposes the same tax on sellers of the good, then the price paid by buyers will

 a. not change and the price received by sellers will not change. b. not change and the price received by sellers will decrease. c. decrease and the price received by sellers will not change. d. decrease and the price received by sellers will decrease.

63. In the final analysis, tax incidence

 a. depends on the legislated burden. b. is entirely random. c. depends on the forces of supply and demand. d. falls entirely on buyers or entirely on sellers.

64. If the government removes a tax on a good, then the quantity of the good sold will

 a. increase. b. decrease. c. not change. d. All of the above are possible.

65. If the government removes a tax on a good, then the price paid by buyers will

 a. increase and the price received by sellers will increase. b. increase and the price received by sellers will decrease. c. decrease and the price received by sellers will increase. d. decrease and the price received by sellers will decrease.

66. Which of the following causes a shortage of a good?

 a. a binding price floor b. a binding price ceiling c. a tax on the good d. More than one of the above is correct.

67. Which of the following causes a surplus of a good?

 a. a binding price floor b. a binding price ceiling c. a tax on the good d. More than one of the above is correct.

68. Which of the following causes the price paid by buyers to be different than the price received by sellers?

 a. a binding price floor b. a binding price ceiling c. a tax on the good d. More than one of the above is correct.

69. The price paid by buyers in a market will increase if the government

 a. increases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. More than one of the above is correct.

floors

70. The price paid by buyers in a market will increase if the government

 a. decreases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. imposes a binding price ceiling in that market.

71. The price paid by buyers in a market will decrease if the government

 a. increases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. More than one of the above is correct.

72. The price paid by buyers in a market will decrease if the government

 a. imposes a binding price floor in that market. b. increases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. decreases a binding price floor in that market.

73. The price received by sellers in a market will increase if the government

 a. decreases a binding price floor in that market. b. decreases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. None of the above is correct.

74. The price received by sellers in a market will increase if the government

 a. decreases a binding price floor in that market. b. increases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. imposes a binding price ceiling in that market.

75. The price received by sellers in a market will decrease if the government

 a. increases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. None of the above is correct.

76. The price received by sellers in a market will decrease if the government

 a. imposes a binding price floor in that market. b. decreases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. increases a binding price floor in that market.

77. The quantity sold in a market will increase if the government

 a. decreases a binding price floor in that market. b. decreases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. More than one of the above is correct.

78. The quantity sold in a market will increase if the government

 a. decreases a binding price floor in that market. b. increases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. More than one of the above is correct.

79. The quantity sold in a market will decrease if the government

 a. decreases a binding price floor in that market. b. decreases a binding price ceiling in that market. c. decreases a tax on the good sold in that market. d. More than one of the above is correct.

80. The quantity sold in a market will decrease if the government

 a. decreases a binding price floor in that market. b. increases a binding price ceiling in that market. c. increases a tax on the good sold in that market. d. More than one of the above is correct.

Figure 6-9

81. Refer to Figure 6-9. The equilibrium price in the market before the tax is imposed is

 a. \$1. b. \$2. c. \$5. d. \$6.

82. Refer to Figure 6-9. As the figure is drawn, who sends the tax payment to the government?

 a. the buyers b. the sellers c. A portion of the tax payment is sent by the buyers and the remaining portion is sent by the sellers. d. The question of who sends the tax payment cannot be determined from the figure.

83. Refer to Figure 6-9. The price that buyers pay after the tax is imposed is

 a. \$5. b. \$6. c. \$7. d. \$8.

84. Refer to Figure 6-9. The effective price that sellers receive after the tax is imposed is

 a. \$5. b. \$6. c. \$7. d. \$8.

85. Refer to Figure 6-9. The amount of the tax per unit is

 a. \$1. b. \$1.50. c. \$2. d. \$3.

86. Refer to Figure 6-9. The burden of the tax on buyers is

 a. \$1 per unit. b. \$1.50 per unit. c. \$2 per unit. d. \$3 per unit.

87. Refer to Figure 6-9. The burden of the tax on sellers is

 a. \$1 per unit. b. \$1.50 per unit. c. \$2 per unit. d. \$3 per unit.

88. Refer to Figure 6-9. Suppose the same supply and demand curves apply and a tax of the same amount per unit as shown here is imposed. Now, however, the sellers of the good, rather than the buyers, are required to pay the tax to the government. Now, relative to the case depicted in the figure,

 a. the burden on buyers will be larger and the burden on sellers will be smaller. b. the burden on buyers will be smaller and the burden on sellers will be larger. c. the burden on buyers will be the same and the burden on sellers will be the same. d. The relative burdens in the two cases cannot be determined without further information.

89. Refer to Figure 6-9. How much tax revenue does this tax generate for the government?

 a. \$150 b. \$180 c. \$250 d. \$300

Figure 6-10

90. Refer to Figure 6-10. The price paid by buyers after the tax is imposed is

 a. \$8. b. \$10. c. \$14. d. \$18.

91. Refer to Figure 6-10. The effective price received by sellers after the tax is imposed is

 a. \$8. b. \$10. c. \$14. d. \$18.

92. Refer to Figure 6-10. The amount of the tax per unit is

 a. \$4. b. \$5. c. \$6. d. \$10.

93. Refer to Figure 6-10. The per-unit burden of the tax is

 a. \$4 on buyers and \$6 on sellers. b. \$5 on buyers and \$5 on sellers. c. \$6 on buyers and \$4 on sellers. d. \$10 on buyers and \$0 on sellers.

94. Refer to Figure 6-10. How much tax revenue does this tax produce for the government?

 a. \$480 b. \$600 c. \$800 d. \$1120

Figure 6-11

95. Refer to Figure 6-11. The equilibrium price in the market before the tax is imposed is

 a. \$3.50. b. \$5. c. \$6. d. \$7.

96. Refer to Figure 6-11. As the figure is drawn, who sends the tax payment to the government?

 a. the buyers b. the sellers c. A portion of the tax payment is sent by the buyers and the remaining portion is sent by the sellers. d. The question of who sends the tax payment cannot be determined from the figure.

97. Refer to Figure 6-11. The price paid by buyers after the tax is imposed is

 a. \$2.50. b. \$3.50. c. \$5.00. d. \$6.00.

98. Refer to Figure 6-11. The effective price sellers receive after the tax is imposed is

 a. \$2.50. b. \$3.50. c. \$5.00. d. \$6.00.

99. Refer to Figure 6-11. The amount of the tax per unit is

 a. \$1. b. \$1.50. c. \$2.50. d. \$3.50.

100.Refer to Figure 6-11. Buyers pay how much of the tax per unit?

 a. \$1. b. \$1.50. c. \$2.50. d. \$3.50.

101.Refer to Figure 6-11. Sellers pay how much of the tax per unit?

 a. \$1.00. b. \$1.50. c. \$2.50. d. \$3.50.

102.Refer to Figure 6-11. Suppose the same supply and demand curves apply and a tax of the same amount per unit as shown here is imposed. Now, however, the buyers of the good, rather than the sellers, are required to pay the tax to the government. Now, relative to the case depicted in the figure,

 a. the burden on buyers will be larger and the burden on sellers will be smaller. b. the burden on buyers will be smaller and the burden on sellers will be larger. c. the burden on buyers will be the same and the burden on sellers will be the same. d. The relative burdens in the two cases cannot be determined without further information.

103.Refer to Figure 6-11. How much tax revenue does this tax generate for the government?

 a. \$75 b. \$125 c. \$175 d. \$300

Figure 6-12

104.Refer to Figure 6-12. The price paid by buyers after the tax is imposed is

 a. \$3. b. \$4. c. \$5. d. \$7.

105.Refer to Figure 6-12. The effective price received by sellers after the tax is imposed is

 a. \$3. b. \$4. c. \$5. d. \$7.

106.Refer to Figure 6-12. For every unit of the good that is sold,

 a. sellers are required to send one dollar to the government and buyers are required to send two dollars to the government. b. sellers are required to send two dollars to the government and buyers are required to send one dollar to the government. c. sellers are required to send three dollars to the government and buyers are required to send nothing to the government. d. sellers are required to send nothing to the government and buyers are required to send two dollars to the government.

107.Refer to Figure 6-12. Which of the following is correct?

 a. One-fourth of the burden of the tax falls on buyers and three-fourths of the burden of the tax falls on sellers. b. One-third of the burden of the tax falls on buyers and two-thirds of the burden of the tax falls on sellers. c. One-half of the burden of the tax falls on buyers and one-half of the burden of the tax falls on sellers. d. Two-thirds of the burden of the tax falls on buyers and one-third of the burden of the tax falls on sellers.

108.Refer to Figure 6-12. How much tax revenue does this tax produce for the government?

 a. \$24 b. \$30 c. \$32 d. \$56

Figure 6-13

The vertical distance between points A and B represents the tax in the market.

109.Refer to Figure 6-13. The price that buyers pay after the tax is imposed is

 a. \$8. b. \$10. c. \$16. d. \$24.

110.Refer to Figure 6-13. The effective price that sellers receive after the tax is imposed is

 a. \$6. b. \$10. c. \$16. d. \$24.

111.Refer to Figure 6-13. The amount of the tax per unit is

 a. \$6. b. \$8. c. \$14. d. \$18.

112.Refer to Figure 6-13. The per-unit burden of the tax on buyers is

 a. \$6. b. \$8. c. \$14. d. \$24.

113.Refer to Figure 6-13. The per-unit burden of the tax on sellers is

 a. \$6. b. \$8. c. \$10. d. \$14.

Figure 6-14

114.Refer to Figure 6-14. Suppose a tax of \$2 per unit is imposed on this market. What will be the new equilibrium quantity in this market?

 a. less than 50 units b. 50 units c. between 50 units and 100 units d. greater than 100 units

115.Refer to Figure 6-14. Suppose a tax of \$2 per unit is imposed on this market. How much will sellers receive per unit after the tax is imposed?

 a. \$3 b. between \$3 and \$5 c. between \$5 and \$7 d. \$7

116.Refer to Figure 6-14. Suppose a tax of \$2 per unit is imposed on this market. How much will buyers pay per unit after the tax is imposed?

 a. \$3 b. between \$3 and \$5 c. between \$5 and \$7 d. \$7

117.Refer to Figure 6-14. Suppose a tax of \$2 per unit is imposed on this market. Which of the following is correct?

 a. One-fourth of the burden of the tax will fall on buyers and three-fourths of the burden of the tax will fall on sellers. b. One-third of the burden of the tax will fall on buyers and two-thirds of the burden of the tax will fall on sellers. c. One-half of the burden of the tax will fall on buyers and one-half of the burden of the tax will fall on sellers. d. Two-thirds of the burden of the tax will fall on buyers and one-third of the burden of the tax will fall on sellers.

Figure 6-15

118.Refer to Figure 6-15. Suppose a tax of \$5 per unit is imposed on this market. What will be the new equilibrium quantity in this market?

 a. less than 25 units b. 25 units c. between 25 units and 50 units d. greater than 50 units

119.Refer to Figure 6-15. Suppose a tax of \$5 per unit is imposed on this market. How much will sellers receive per unit after the tax is imposed?

 a. \$5 b. between \$5 and \$10 c. between \$10 and \$14 d. \$14

120.Refer to Figure 6-15. Suppose a tax of \$5 per unit is imposed on this market. How much will buyers pay per unit after the tax is imposed?

 a. \$5 b. between \$5 and \$10 c. between \$10 and \$14 d. \$14

121.Refer to Figure 6-15. Suppose a tax of \$5 per unit is imposed on this market. Which of the following is correct?

 a. Buyers and sellers will share the burden of the tax equally. b. Buyers will bear more of the burden of the tax than sellers will. c. Sellers will bear more of the burden of the tax than buyers will. d. Any of the above is possible.

122.The federal government uses the revenue from the FICA (Federal Insurance Contribution Act) tax to pay for

 a. unemployment compensation. b. the salaries of members of Congress. c. Social Security and Medicare. d. housing subsidies for low-income people.

123.The Federal Insurance Contribution Act (FICA) tax is an example of

 a. a payroll tax. b. a sales tax. c. a farm subsidy. d. an income subsidy.

124.A payroll tax is a

 a. fixed number of dollars that every firm must pay to the government for each worker that the firm hires. b. tax that each firm must pay to the government before the firm can hire workers and operate its business. c. tax on the wages that firms pay their workers. d. tax on all wages above the minimum wage.

125.Congress intended that

 a. the entire FICA tax be paid by workers. b. the entire FICA tax be paid by firms. c. one-quarter of the FICA tax be paid by workers, and three-quarters be paid by firms. d. half the FICA tax be paid by workers, and half be paid by firms.

126.Although lawmakers legislated a fifty-fifty division of the payment of the FICA tax,

 a. the actual tax incidence is unaffected by the legislated tax incidence. b. the employer now is required by law to pay more than 50 percent of the tax. c. the employee now is required by law to pay more than 50 percent of the tax. d. employers are no longer required by law to pay any portion of the tax.

127.When a payroll tax is enacted,

 a. the wage received by workers falls and the wage paid by firms rises. b. the wage received by workers falls and the wage paid by firms falls. c. the wage received by workers rises and the wage paid by firms falls. d. the wage received by workers rises and the wage paid by firms rises.

128.A key lesson from the payroll tax is that the

 a. tax is a tax solely on workers. b. tax is a tax solely on firms that hire workers. c. tax eliminates any wedge that might exist between the wage that firms pay and the wage that workers receive. d. true burden of a tax cannot be legislated.

129.Suppose that in a particular market, the supply curve is highly elastic and the demand curve is highly inelastic. If a tax is imposed in this market, then

 a. the buyers will bear a greater burden of the tax than the sellers. b. the sellers will bear a greater burden of the tax than the buyers. c. the buyers and sellers are likely to share the burden of the tax equally. d. the buyers and sellers will not share the burden equally, but it is impossible to determine who will bear the greater burden of the tax without more information.

130.If a tax is imposed on a market with inelastic demand and elastic supply, then

 a. buyers will bear most of the burden of the tax. b. sellers will bear most of the burden of the tax. c. the burden of the tax will be shared equally between buyers and sellers. d. it is impossible to determine how the burden of the tax will be shared.

131.Suppose that the demand for picture frames is inelastic and the supply of picture frames is elastic. A tax of \$1 per frame levied on picture frames will increase the price paid by buyers of picture frames by

 a. less than \$0.50. b. \$0.50. c. between \$0.50 and \$1. d. \$1.

132.Suppose that the demand for picture frames is inelastic and the supply of picture frames is elastic. A tax of \$1 per frame levied on picture frames will decrease the effective price received by sellers of picture frames by

 a. less than \$0.50. b. \$0.50. c. between \$0.50 and \$1. d. \$1.

133.In which of these cases will the tax burden fall most heavily on buyers of the good?

 a. The demand curve is relatively steep and the supply curve is relatively flat. b. The demand curve is relatively flat and the supply curve is relatively steep. c. The demand curve and the supply curve are both relatively flat. d. The demand curve and the supply curve are both relatively steep.

134.Buyers of a good bear the larger share of the tax burden when a tax is placed on a product for which

 a. the supply is more elastic than the demand. b. the demand in more elastic than the supply. c. the tax is placed on the sellers of the product. d. the tax is placed on the buyers of the product.

135.Suppose that a tax is placed on books. If the buyers pay the majority of the tax, then we know that the

 a. demand is more inelastic than the supply. b. supply is more inelastic than the demand. c. government has required that buyers remit the tax payments. d. government has required that sellers remit the tax payments.

136.Suppose that in a particular market, the demand curve is highly elastic and the supply curve is highly inelastic. If a tax is imposed in this market, then

 a. the buyers will bear a greater burden of the tax than the sellers. b. the sellers will bear a greater burden of the tax than the buyers. c. the buyers and sellers are likely to share the burden of the tax equally. d. the buyers and sellers will not share the burden equally, but it is impossible to determine who will bear the greater burden of the tax without more information.

137.If a tax is imposed on a market with inelastic supply and elastic demand, then

 a. buyers will bear most of the burden of the tax. b. sellers will bear most of the burden of the tax. c. the burden of the tax will be shared equally between buyers and sellers. d. it is impossible to determine how the burden of the tax will be shared.

138.Suppose that the demand for picture frames is elastic and the supply of picture frames is inelastic. A tax of \$1 per frame levied on picture frames will increase the price paid by buyers of picture frames by

 a. less than \$0.50. b. \$0.50. c. between \$0.50 and \$1. d. \$1.

139.Suppose that the demand for picture frames is elastic and the supply of picture frames is inelastic. A tax of \$1 per frame levied on picture frames will decrease the effective price received by sellers of picture frames by

 a. less than \$0.50. b. \$0.50. c. between \$0.50 and \$1. d. \$1.

140.In which of these cases will the tax burden fall most heavily on sellers of the good?

 a. The demand curve is relatively steep and the supply curve is relatively flat. b. The demand curve is relatively flat and the supply curve is relatively steep. c. The demand curve and the supply curve are both relatively flat. d. The demand curve and the supply curve are both relatively steep.

141.Sellers of a good bear the larger share of the tax burden when a tax is placed on a product for which

 a. the supply is more elastic than the demand. b. the demand in more elastic than the supply. c. the tax is placed on the sellers of the product. d. the tax is placed on the buyers of the product.

142.Suppose that a tax is placed on books. If the sellers pay the majority of the tax, then we know that the

 a. demand is more inelastic than the supply. b. supply is more inelastic than the demand. c. government has required that buyers remit the tax payments. d. government has required that sellers remit the tax payments.

143.The demand for salt is inelastic and the supply of salt is elastic. The demand for caviar is elastic and the supply of caviar is inelastic. Suppose that a tax of \$1 per pound is levied on the sellers of salt and a tax of \$1 per pound is levied on the buyers of caviar. We would expect that most of the burden of these taxes will fall on

 a. sellers of salt and the buyers of caviar. b. sellers of salt and the sellers of caviar. c. buyers of salt and the sellers of caviar. d. buyers of salt and the buyers of caviar.

144.Suppose the demand for macaroni is inelastic and the supply of macaroni is elastic, and the demand for cigarettes is inelastic and the supply of cigarettes is elastic. If a tax were levied on the sellers of both of these commodities, we would expect that the

 a. burden of both taxes would fall more heavily on the buyers than on the sellers. b. burden of the macaroni tax would fall more heavily on the sellers than on the buyers, and the burden of the cigarette tax would fall more heavily on the buyers than on the sellers. c. burden of the macaroni tax would fall more heavily on the buyers than on the sellers, and the burden of the cigarette tax would fall more heavily on the sellers than on the buyers. d. burden of both taxes would fall more heavily on the sellers than on the buyers.

145.Which of the following is correct?

 a. A tax burden falls more heavily on the side of the market that is more elastic. b. A tax burden falls more heavily on the side of the market that is less elastic. c. A tax burden falls more heavily on the side of the market that is closer to unit elastic. d. A tax burden is distributed independently of the relative elasticities of supply and demand.

146.A tax burden falls more heavily on the side of the market that

 a. has a fewer number of participants. b. is more inelastic. c. is closer to unit elastic. d. is less inelastic.

147.Which of the following statements is true?

 a. A tax levied on buyers will never be partially paid by sellers. b. Who actually pays a tax depends on the price elasticities of supply and demand. c. Government can decide who actually pays a tax. d. A tax levied on sellers always will be passed on completely to buyers.

148.If the government wants to reduce smoking, it should impose a tax on

 a. buyers of cigarettes. b. sellers of cigarettes. c. either buyers or sellers of cigarettes. d. whichever side of the market is less elastic.

Figure 6-16

Panel (a) Panel (b)

Panel (c)

149.Refer to Figure 6-16. In which market will the majority of the tax burden fall on buyers?

 a. market (a) b. market (b) c. market (c) d. All of the above are correct.

150.Refer to Figure 6-16. In which market will the majority of the tax burden fall on sellers?

 a. market (a) b. market (b) c. market (c) d. All of the above are correct.
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