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ould consumer or producer carry the burden of tax if good is inelastic? Show on a grap

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Under which circumstances does the tax burden fall entirely on consumers?
1,
Only typed answer and please don't use chatgpt
If elasticity of demand is greater than elasticity of supply, more tax incidence will be on who? A. Seller B. Buyer