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Suppose the demand curve is relatively steeper than the supply curve, and the government implements a tax that the seller are responsible for collecting and
Suppose the demand curve is relatively steeper than the supply curve, and the government implements a tax that the seller are responsible for collecting and paying. Which of the following is true about the tax incidence? A. The portion of the tax paid by the seller will be larger than the portion of the tax paid by the buyer B. Seller will pay the entire burden of the tax C. Buyers will pay the entire burden of the tax D. The portion of the tax paid by the buyer will be larger than the portion paid by the seller
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