sabrinabowers648 sabrinabowers648

04-11-2022
Business

Answered

g1. for a market where the elasticity of demand equals -2, the elasticity of supply equals 1.5, the initial market price is $20, and the initial quantity exchanged is 50, the government has decided to impose a tax of $2 per unit. a. what is the burden to consumers from this tax? b. what is the burden to producers from this tax? c. what is total amount of revenue the government will receive from this market?

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