Q22. For markets with perfectly elastic supply and perfectly inelastic supply, respectively, the introduction of a tax will most likely result in: Markets with perfectly elastic supply Markets with perfectly inelastic supply A. | A price increase, and the seller bears the tax. | A price increase, and the buyer bears the tax | B. | A price increase, and supply remains the same. | No change in price, and the seller bears the tax. | C. | A price increase, and the buyer bears the tax | No change in price, and the seller bears the tax | D. | No change in price, and the seller bears the tax | A price increase, and the buyer bears the tax |
A. Answer A B. Answer B C. Answer C D. Answer D |