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Suppose the elasticity of demand for the good is similar to the elasticity of supply
.50 .45 What is the equilibrium price?
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Part B
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Who bears the burden of the tax when demand is more elastic than supply? (supply is more inelastic than demand?)
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Part B
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Who bears the burden of the tax when demand is more elastic than supply? (supply is more inelastic than demand?)
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Part C
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Who bears the burden of the tax when demand is perfectly inelastic?
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Part C
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Who bears the burden of the tax when demand is perfectly inelastic?
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Part D
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Who bears the burden of the tax when demand is perfectly elastic?
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Part D
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Who bears the burden of the tax when demand is perfectly elastic?
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Who bears the burden of the tax when supply is perfectly inelastic?
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Who bears the burden of the tax when supply is perfectly inelastic?
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Who bears the burden of the tax when supply is perfectly inelastic?
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