1.suppose that a tax is placed on books. if the seller pays the majority of the tax, what do we know?
a. the supply curve is more inelastic than the demand curve.
b. the demand curve is more inelastic than the supply curve.
c. the government has placed the tax on the seller.
d. the government has placed the tax on the buyer.
2.market demand is given q=120-3p. market supply is given as q=10+4p. what is the slope of the supply curve?
a.-0.5
b.4
c.-0.33
d.0.25
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