If the demand for a commodity is perfectly elastic, the i...
If the demand for a commodity is perfectly elastic, the incidence of a tax on that commodity will be, other things being equal, entirely on the______
Buyer
Seller
Government
Local authority
Correct answer is B
The seller or producer will bear the whole burden of taxation. Any attempt to increase price will make the demand for the commodity to fall to zero.
The raising of funds by selling stocks to the public is called ...
If a country has a balance of payments surplus on current account, this means that ...
A price floor is usually fixed ...
The total amount of money in circulation includes cash ...
Which of the following best describes the concept of opportunity cost? ...
Which of the following best explain an inflationary situation at current price level? ...
The difference between gross national product and net national product is equal to ...
Commercial banks can create money in the following ways? ...