Question: This is for ECON-251 Chapter 6 Market: Pricing Ceiling, Floors, Taxes and Subsidies. Basic multiple choice questions that I know as more elastic the supply
This is for ECON-251 Chapter 6 Market: Pricing Ceiling, Floors, Taxes and Subsidies. Basic multiple choice questions that I know as more elastic the supply curve of the good the burden deeper between seller and buyers are that buyers will need to pay most of them. So I want to know is the answer c of " the larger increase in the after- tax price" ? That I need a confirmation.

rect Question 7 Suppose a $10 tax is placed on a good. The more elastic the supply of the good, the smaller the decrease in the quantity sold. more of the tax will be paid by the sellers. larger the increase in the after-tax price! less of the tax will be paid by the buyers
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