Demand curve is horizontal-supply curve is upward sloping

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Reference no: EM13861914

Suppose that an excise tale of $1 is placed on sellers in a market for widgets. Using diagrams indicate whether none, some, or all of the tax is passed on to the consumer in the form of a higher price for each case described below.

Case 1: Demand curve is horizontal and supply curve is upward sloping.

Case 2: Demand curve is vertical and supply curve is upward sloping.

Case 3: Demand curve is downward sloping and supply curve is horizontal.

Reference no: EM13861914

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