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A graph of price, P, versus quantity, Q, shows two parallel supply curves, S 1 and S 2, and a demand curve, D. The supply
A graph of price, P, versus quantity, Q, shows two parallel supply curves, S 1 and S 2, and a demand curve, D. The supply curves are straight lines ascending to the right, and the demand curve is a straight line descending from upper left to lower right. S 1 is to the right of S 2. S 1 intersects Curve D at point (120, 9), and S 2 intersects Curve D at point (105, 12). Point (105, 8), is marked on S 1. Refer to Figure 6-13. How is the burden of the tax shared between buyers and sellers? Buyers bear three-fourths of the burden, and sellers bear one-fourth of the burden. two-thirds of the burden, and sellers bear one-third of the burden. one-half of the burden, and sellers bear one-half of the burden. one-fourth of the burden, and sellers bear three-fourths of the burden
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