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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Under “which circumstances does line tax burden fall entirely on consumers?

To determine

The situation in which the burden of tax is bone by the consumers only.

Explanation

The tax burden although divided between producers and consumers but in some situations it shifts totally to the consumers. Such situation is the perfect inelastic demand in the market. In this situation, the consumer has to pay whatever the price of the product is as the demand of the consume...

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