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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

A tax is placed on the sellers of a good. What happens to the percentage of this tax that buyers pay as the price elasticity of demand for the good decreases? Explain your answer.

To determine

The impact of decrease in the price elasticity of demand on the tax paid by the buyers.

Explanation

If the price elasticity of demand for the good decreases, then there is a less possibility to stop buying the good...

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