1. What is a black market? What are some of the main differences in how black markets operate relative to legal markets? 2. What conditions must be met for buyers to bear the full burden of a tax?...

1. What is a black market? What are some of the main differences in how black markets operate relative to legal markets?

2. What conditions must be met for buyers to bear the full burden of a tax? What conditions would cause sellers to bear the full burden? Explain.

May 26, 2022