Business, 28.02.2020 04:48 Thania3902

Suppose that the government imposes a commodity tax on alcohol. Assuming that both alcohol demand and supply are relatively elastic, what happens to alcohol consumption and to the alcohol market price?

a. Alcohol consumption increases, whereas the alcohol market price increases if the tax is placed on the sellers or decreases if the tax is placed on the buyers.
b. Alcohol consumption increases, whereas the alcohol market price increases if the tax is placed on the buyers or decreases if the tax is placed on the sellers.
c. Alcohol consumption decreases, whereas the alcohol market price increases if the tax is placed on the sellers or decreases if the tax is placed on the buyers.
d. Alcohol consumption decreases, whereas the alcohol market price increases if the tax is placed on the buyers or decreases if the tax is placed on the sellers.

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Suppose that the government imposes a commodity tax on alcohol. Assuming that both alcohol demand an...

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