Asked by Roberta McGuire on Jul 09, 2024
Verified
If supply is more elastic than demand,the seller will pay _____ of a tax.
Elastic
Describes a situation in economics where the demand or supply of a good or service significantly changes in response to a change in price.
Seller
An individual or entity that offers goods or services for sale.
Tax
is a compulsory financial charge or some other type of levy imposed on a taxpayer by a government organization in order to fund government spending and various public expenditures.
- Explore the ramifications of tax policies on market stability and pinpoint who carries the burden of taxes.
- Learn how elasticity of supply differs from elasticity of demand and its implications
Verified Answer
MP
Learning Objectives
- Explore the ramifications of tax policies on market stability and pinpoint who carries the burden of taxes.
- Learn how elasticity of supply differs from elasticity of demand and its implications