Answer: See explanation
Explanation:
You didn't give the options and I couldn't find the exact question online. Let me try help out.
Incidence of tax is the impact that a tax simply has on how the economic welfare are being distributed. It refers to how tax is being distributed between the producers and the buyers of a particular good. It should be noted that the tax burden is shared by the sellers depending on the elasticity of the said product.
For example, in a situation whereby a $2 tax is imposed on each good a producer produces, if the producer then pass the tax to the final consumers when he raised the price of the goods by $2, we can simply say that such good has a price inelastic as the entire burden falls on the consumer.
Also, assuming the producer can't increase prices because such good is price elastic, that is, there will be a greater change in the quantity of the goods demanded, the burden will be felt by the producer alone. Here, we can say that the tax incidence falls on the producer.
Hey man!
The discovery of large oil reserves, this is the principal actor that changed the modern countries in the arabian peninsula. One of this examples was the Iraqi War when Saddam Hussein invaded Kuwait.
From smallest to largest it would be individual, population, community, ecosystem, biome, and then biosphere.
Greenwich, London which is located in England is the city that is the farthest from the Prime Meridian.
Happy Studying! ^=^
