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Q: Which of the following statements is false? Options An increase in tax will affect the customers more than the producers if the supply schedule is inelastic. An increase in tax will affect the
customers more than the producers if the demand schedule is inelastic. An increase in tax will affect the customers less than the producers if the supply schedule is inelastic. An increase in tax will affect the customers less than the producers if the demand schedule is inelastic.
A: Inelastic is an economic term used to describe the situation in which the supply and demand for a good are unaffected when the price of that good or service changes. Read more:
Darkiedark|Points 1293|
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Asked 10/24/2013 11:56:29 AM
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