Next question ne graph shows the market for basketballs, when sellers are taxed $6 a ball. Price (dollars per ball) 27 Vhat is the excess burden of the tax? 25 is the demand for basketballs or the supply of basketballs more inelastic? $+ tax 23 21- 19- Draw a shape that shows the excess burden of the tax on basketballs. 17+16 T5 15- The excess burden of the tax on basketballs is $ million. 13 ID The supply of basketballs is more than the demand for basketballs, and 11- 10 the pays most of the tax. 9- O A. inelastic; seller 7+ 12 OB. inelastic; buyer 5- 12 16 O C. elastic; buyer Quantity (millions of balls)
Next question ne graph shows the market for basketballs, when sellers are taxed $6 a ball. Price (dollars per ball) 27 Vhat is the excess burden of the tax? 25 is the demand for basketballs or the supply of basketballs more inelastic? $+ tax 23 21- 19- Draw a shape that shows the excess burden of the tax on basketballs. 17+16 T5 15- The excess burden of the tax on basketballs is $ million. 13 ID The supply of basketballs is more than the demand for basketballs, and 11- 10 the pays most of the tax. 9- O A. inelastic; seller 7+ 12 OB. inelastic; buyer 5- 12 16 O C. elastic; buyer Quantity (millions of balls)
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 10PA
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