Question 12 Which of the following is not a true statement about taxes? Not yet answered Select one: Points out of 1 O a. Every tax on trade has an excess burden (sometimes called deadweight loss). Flag question O b. Part of every tax is paid by buyers out of consumer surplus, and part is paid by sellers out of producer surplus. O c. The revenue to the government from an excise tax is the tax per unit multiplied by the quantity of the good that is sold after the tax goes into effect. O d. The excess burden of a tax is greater if the demand or supply curves (or both) are steep. O e. In reality, a tax is borne (paid) mostly by the buyers only if the supply curve is flatter than the demand curve. If the demand curve is flatter than the supply curve, sellers pay most. Question 13 If the current market price of freekoes is less than the marginal opportunity cost of making them, Not yet answered Select one: Points out of 1 O a. price will remain unchanged as long as supply and demand do not change. Flag question O b. more producers will wish to produce freekoes in the future. O c. the market price of freekoes will fall over time. O d. the market is in equilibrium. O e. resources will eventually move out of making freekoes