1. Buyers of a product will bear the larger part of the tax burden, and sellers will bear a smaller part of when the A. O tax is placed on the buyers of the product. B. Tax is placed on the sellers of the product. C. demand for the product is more elastic than the supply of the product. D supply of the product is more elastic than the demand for the product. 2. Suppose the supply curve for cars is more elastic than the demand curve for cars. If the government imposes a tax on car dealerships (car sellers), which party (buyers or sellers) will bear more of the tax burden? A. It depends on on who the government levies the tax. B. The tax will be split equally between buyers and sellers C Car buyers D. Car sellers 3. Which of the following are NOT an inefficiency likely stemming from a price ceiling? A. A decrease in the quality of the good. B The people who value the good the most are not necessarily the ones who C.The people who value the good the most are not necessarily the ones who purchase the good. D.People waste time standing in line to purchase goods in a shortage