Who actually pays a tax depends on the price elasticity of supply and demand. Question 6 Multiple Choice Which of the following statements is true? Question 7 Multiple Choice 0 of 5 point(s) The long-run effects of rent controls are a good illustration of the principle that Your Answer: Correct Answer: [None Given] people respond to incentives. Question 8 Multiple Choice A price ceiling will only be binding if it is set Your Answer: Correct Answer: Question 9 Multiple Choice Figure 6-11 [None Given] below equilibrium price. Refer to Figure 6-11. In which market will the tax be most equally divided between the buyer and the seller?