If demand is less elastic (i.e., the demand curve is steeper) than supply, [who will bear greater tax burden, consumers or suppliers?].
Answer
consumers will bear a higher burden-that is, pay a greater portion of the tax revenue than suppliers
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Open it If demand is less elastic (i.e., the demand curve is steeper) than supply, consumers will bear a higher burden-that is, pay a greater portion of the tax revenue than suppliers.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p29
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