Can you explain why my answer wasn’t correct? Which of the following is the most correct statement about taxburdens?A tax burden is distributed independently of relative elasticities ofsupply and demand.A tax burden falls most heavily on the side of the market that isinelastic.A tax burden falls most heavily on the side of the market that is closerto unit elastic.A tax burden falls most heavily on the side of the market that iselastic,A tax burden falls most heavily on the side ofthe market that is elastic... You selected thisanswer.

The correct answer here would have been :- A tax burden falls most heavily on the side of the market…

Which of the following is the most correct statemeht ab burdens? A tax burden is distributed independently of relative elasticities of supply and demand. A tax burden falls most heavily on the side of the market that is inelastic.

Which of the following is the most correct statemeht ab burdens? A tax burden is distributed independently of relative elasticities of supply and demand. A tax burden falls most heavily on the side of the market that is inelastic.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Can you explain why my answer wasn’t correct?

Which of the following is the most correct statement about tax
burdens?
A tax burden is distributed independently of relative elasticities of
supply and demand.
A tax burden falls most heavily on the side of the market that is
inelastic.
A tax burden falls most heavily on the side of the market that is closer
to unit elastic.
A tax burden falls most heavily on the side of the market that is
elastic,
A tax burden falls most heavily on the side of
the market that is elastic... You selected this
answer.

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