Answer:
The correct answer is b) burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal.
Explanation:
According to the market equilibrium model, a market reaches equilibrium in the point where demand and supply curves intersect. When a new tax is introduced on sellers, the price of the good increases, shifting not only the supply curve, but the demand curve as well, since consumers will buy less of the good. Only if either demand or supply curve was completely elastic or completely inelastic, would the tax have incidence on either buyer or seller alone.
The correct answer is A) Red Herring.
Thep type of logical fallacy involved here is Red Herring.
When we talk about logic, the term Red Herring means is a misdirection from the original subject, as a change of direction of the idea. It is when the argument tries to change to something that can be better answered or explained by the individual who does the changing. In simpler terms, when a person is using Red Herring, it simply tries to divert the attention of its audience and change the topic to not responding to the first or original argument.
<span>His food preference is judged as abnormal based on regional differences in cuisines from Poland and the fact that the norm is set by the majority who prefer italian food. His preference of food is different from that of the majority in the social group which sets him apart a an outlier.</span>
What is the number? The can’t see the question correctly.
A would be the answer, I think.
