1 answer

Price (cents per hot dog) 12 Quantity (thousands of hot dogs per In the above figure,...

Question:

Price (cents per hot dog) 12 Quantity (thousands of hot dogs per In the above figure, the imposition of a $0.25 sales tax on
Price (cents per hot dog) 12 Quantity (thousands of hot dogs per In the above figure, the imposition of a $0.25 sales tax on sellers will OA) lower the market price paid by buyers of hotdogs by $0.25. OB) raise the market price paid by buyers of hotdogs by $0.25. OC) raise the market price paid by buyers of hotdogs by $0.125. OD) have no effect on the market price of hot dogs.

Answers

Here the demand curve is perfectly elastic . So the whole tax burden is carried by seller . The supply curve shifts left but demand curve is constant . So market price remains same , some supply declines as producer's production cost rises after tax . Answer : D) have no effect on the market price

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