4.
If Supply and Demand have the normal shapes (not perfectly
elastic or inelastic), a "tax on sellers" (as defined by Mankiw)
will shift demand upward by less than the amount of the tax, and
equlibrium posted price will increase by the same amound as the
tax.
True or False?
6.
If Supply and Demand have the normal shapes (not perfectly
elastic or inelastic), a "tax on sellers" (as defined by Mankiw)
will shift demand upward by the amount of...