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MMLU / Which of the following examples would result in consumers paying for the largest…

Problem

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question

Which of the following examples would result in consumers paying for the largest burden of an excise tax placed on a producer?

choices

  1. If the demand curve is price elastic and the supply curve is price inelastic
  2. If the demand curve is price elastic and the supply curve is perfectly elastic
  3. If the demand curve is price inelastic and the supply curve is price elastic
  4. If the demand curve is perfectly inelastic and the supply curve is price elastic

subject

high_school_microeconomics

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