Which of the following statements summarizes the incidence of the tax?
a) for each unit of t...
Which of the following statements summarizes the incidence of the tax?
a) for each unit of the good that is sold, buyers bear one-half of the tax burden, and sellers bear one-half of the tax burden.
b) for each unit of the good that is sold, buyers bear one-third of the tax burden, and sellers bear two-thirds of the tax burden.
c) for each unit of the good that is sold, buyers bear one-fourth of the tax burden, and sellers bear three-fourths of the tax burden.
d) for each unit of the good that is sold, buyers bear three-fourths of the tax burden, and sellers bear one-fourth of the tax burden.
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