The more elastic the supply of a product, the more likely it is that the

A) burden of a tax on the product will fall on sellers.
B) burden of a tax on the product will fall on buyers.
C) burden of a tax on the product will fall equally on both buyers and sellers.
D) deadweight loss of the tax will be smaller.

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly in response to changes in price.

Tax Burden

The overall impact of taxes on an individual or entity's finances, often expressed as a percentage of income or total cost.

Deadweight Loss

The loss of gains from trade to buyers and sellers that occurs when a tax is imposed. The deadweight loss imposes a burden on both buyers and sellers over and above the actual payment of the tax.