Categories: Economics WAEC

If demand is perfectly inelastic; a tax imposed?

A. is borne only by the producer
B. is borne only by the consumer
C. will have a greater impact on the seller
D. will have no impact on the buyer

Correct Answer:

Option B = is borne only by the consumer

Explanation

The incidence of tax when demand is perfectly inelastic is borne by the consumer.

Sunday

Share
Published by
Sunday

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

4 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

4 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

4 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

4 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

4 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

4 months ago