1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Valentin [98]
3 years ago
10

Assume the demand curve is more elastic than the supply curve for the product: chewing tobacco. If the government wants to tax c

hewing tobacco by requiring suppliers to pay $1 per can of tobacco they sell, how will the burden of the tax be borne?
Business
1 answer:
Over [174]3 years ago
4 0

Answer:

The producers will bear more of the tax than the consumer because the supply curve is more inelastic than the demand curve.

Explanation:

The options to this question wasn't provided. Here are the options:

The consumers will bear more of the tax than the producer because the supply curve is more inelastic than the demand curve.

The producers will bear the entirety of the tax because the supply curve is more inelastic than the demand curve.

The producers will bear more of the tax than the consumer because the supply curve is more inelastic than the demand curve.

The consumers will bear the entirety of the tax because producers set the price.

The producers will bear the entirety of the tax because the government imposed the tax directly on them.

Demand is elastic if a small change in price has a greater effect on the quantity demanded.

Supply is elastic if a small change in price has a greater effect on the quantity supplied.

The more elastic demand or supply is the more sensitive quantity demanded or supplied to changes in price.

The burden of tax refers to who pays the tax.

If demand is more elastic that supply it means that demand is more price sensitive to changes in price that supply.

This means that if a tax is imposed which increases the price of the good, quantity demand would change more than quantity supplied.

Therefore, the burden of tax is borne by the party with the less elasticity.

I hope my answer helps you

You might be interested in
Dream Homes is an appliance store. It recently launched its own brand of freezers in order to build customer loyalty. The store
Alex787 [66]

The Pricing strategy which Dream Homes implemented is known as Price lining (Option A) which categorized the prices accordingly with the financial soundness of the customers.

Explanation:

The demand for more goods always plays a vital role in ensuring good sales. The likes of the customers towards particular products depend upon the nature of unique features and its fine quality. By capturing the pulse of the purchasing power of the customers, the business ventures fixed the prices according to the level of economical weaker sections, middle, and high-income groups.

In this case, Dream Homes fix the price of freezers by measuring the ability of customers' to buy them without compromising with the customers requirements. Dream Homes uses the price lining method to gain customers' reputation by selling the products accordingly with their status of income level.      

8 0
3 years ago
A volunteer must review photo identification for every taxpayer to deter the possibility of identity theft.
Serjik [45]

Answer:

Answer of the following statement is TRUE .

Explanation:

Identity theft remains an issue worldwide.

  • The interview should begin with demanding picture id to check the tax payer's and partner's identity on both the tax form.
  • Exceptions must only be provided under extreme situations for requesting photo Identification and for clients reported to the site upon approval by the site administrator.

8 0
3 years ago
Question 9 of 25 : What does unity of command mean?
kari74 [83]
<u />Unity of command is a principle wherein no subordinate in an organization reports to more than one boss.

Each department in a company has only one boss. Every boss of the department reports to one higher authority, and so on.

This is to avoid confusion among subordinates and to ensure that the authority of the boss is not diminish by the authority of another boss. 
7 0
3 years ago
Select examples of public goods provided to everyone by the government
bogdanovich [222]
A) protecting the country and D) public schools im sure this is the answer
3 0
3 years ago
Read 2 more answers
A type of kitchen knife with a sharp point and a narrow blade. It is used in food
Scrat [10]

Answer:

The answer is C. Boning knife

3 0
2 years ago
Other questions:
  • Oona wants to conduct research on personnel management, workplace environment, and what type of environment results in high leve
    6·2 answers
  • Everything Looks Like a Nail, Inc. is a manufacturing company that produces hammers. The company faces a number of different fix
    12·1 answer
  • Opera Corp uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost
    15·1 answer
  • The efficiency wage​ ______. A. is paid by firms who​ can't directly monitor the work effort of their employees B. is equal to t
    9·1 answer
  • Gross billings for merchandise sold by Lang Company to its customers last year amounted to $12,520,000; sales returns and allowa
    7·1 answer
  • Businesses commonly rely upon groups to make decisions because of the many advantages to group decision making.
    5·1 answer
  • One of the diversity challenges managers have to deal with is​ that, in addition to differences in the employee groups that make
    13·1 answer
  • Br.uh + meme =jhhbn b bbv v
    15·2 answers
  • Accounts payable, end of year $ 5,643 $ 9,588 Accounts receivable, net, end of year 21,325 16,438 Inventory, end of year 7,944 7
    14·1 answer
  • The following information is available for Splish Brothers Corp. for the year ended December 31, 2022.Other revenues and gains 2
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!