Each question is worth two points. Comparative advantage is based on a. absolute labor productivity. The term tax incidence refers to a. the Boston Tea Party. A tax on the buyers of popcorn will a. cause the price the buyer pays and the price the seller receives to rise.
Buyers bear the entire burden of the tax.
Sellers bear the entire burden of the tax. Buyers and sellers share the burden of the tax. The government bears the entire burden of the tax. Josh is lost in the desert. The total area below the demand curve and above the price is a. the sum of the consumer surplus of all buyers in the market for the good or service.