Consider the following statements about impact of tax :_x005F_x000D_ 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply._x005F_x000D_ 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand._x005F_x000D_ Which of the statements given above is/are correct?_x005F_x000D_

Consider the following statements about impact of tax :_x005F_x000D_ 1

1.	Consider the following statements about impact of tax :_x005F_x000D_ 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply._x005F_x000D_ 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand._x005F_x000D_ Which of the statements given above is/are correct?_x005F_x000D_
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» D. Neither 1 nor 2