Question

a.Consumer surplus will  ["decrease", "increase", "stay the same"] after a tax is imposed on a market because some consumers will ["leave", "enter"] the market and the remaining consumers will receive ["less", "more", "stay the same"] consumer surplus because the price they pay has  ["decreased", "increased", "stayed the same"]

b. Producer surplus will ["decrease", "increase", "stay the same"]  after a tax is imposed on a market because some producers will ["leave", "enter", "stay in"] the market and the remaining producers will receive ["less", "more", "the same amount of"] producer surplus because the price they receive has ["decreased", "increased", "stayed the same"]

c. The deadweight loss will be smaller when supply and/or demand are more ["elastic", "inelastic", "unit elastic"] because buyers and sellers are  ["less", "more"] responsive to a change in price so the quantity exchanged will decrease by ["zero", "not much", "a lot"]

d. The deadweight loss will be larger when supply and/or demand are more ["elastic", "inelastic", "unit elastic", ""] because buyers and sellers are ["less", "more", "not at all"]         responsive to a change in price so the quantity exchanged will decrease by ["zero", "not much", "a lot"]         .

Answer 1

A - Decrease , Leave , Less , Increased

B - Decrease , Leave , Less , Decreased

C - Inelastic , less , not much

D - Elastic , More , a lot.