Explain in detials:
1.) Suppose government tax on buyers. What determines burdens of taxes on buyers and sellers?
2.) In most countries, government policy to eliminate narcotic problem is to catch narcotic suppliers/producers. Why could the policy make the problem worse?
3.) (a) During the middle of January 2022, the Thailand discovered the country's first official case of African Swine Fever (ASF) while there was unusually higher demand for pork due to the coming Chinese New Year. Other things being equal (constant), analyze the impacts of these events on market price and quantity in Thailand’s pork market. Also support your answers with diagrams.
(b) Using the outcomes in (a), how are these outcomes likely to affect a chicken market (price and quantity) in Thailand. Also support your answers with diagrams.

Answer rating: 100% (QA)

Government Tax on Buyers Determining Burdens When the government imposes a tax on buyers it affects both buyers and sellers in the market The economic incidence of the tax or who bears the burden of t... View the full answer