JAMB Economics 2020 Objective — Question 32
Question 32 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2020 Objective paper, with the correct answer and a full explanation.
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A tax on land will ultimately fall
- A. partly on agents and users
- B. entirely on users
- C. entirely on owners
- D. partly on users and ownersCorrect
Explanation
Because land has an inelastic supply, the tax burden on it ends up being shared by both users and owners.
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