Question 1 15 pts Answer this question according to tutorial discussion. In extreme cases the supply or demand curve can be either vertical (perfectly inelastic) or horizontal (perfectly elastic). In such extreme situations the burden of a per unit excise tax falls entirer on one side of the market. Using a diagram in each case, explain why each of the following scenarios occurs. (a) A horizontal demand curve results in the suppliers bearing the entire burden of an excise tax. (3 marks) (b) A horizontal supply curve results in the consumers bearing the entire burden of an excise tax. (3 marks) ({1} Avertical demand curve results in the consumers bearing the entire burden of an excise tax. (3 marks) (d) Avertical supply curve results in the suppliers bearing the entire burden of an excise tax. (3 marks) (e) Avertical supply or demand curve results no deadweight loss when an excise tax is imposed. (3 marks) Upload H Choose a File