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- Assume that the elasticity of demand for fanta is -0.8 while the elasticity of supply is 0.4. What is the pass-through fraction of a tax on fanta to consumers?Why must local governments pay attention to the types of products they tax. Describe in detail how the elasticity of these products impacts the expected revenue to be generated by these local GovernmentsThe reason which determines the elasticity of tax burden on buyers and sellers.
- What is the tax incidence of an excise tax when demand is highly inelastic and highly elastic?q17- The greater the elasticities of demand and supply the: Select one: a. greater the deadweight loss from a tax b. smaller the deadweight loss from a tax c. less intrusive a tax will be on a market d. more equitable the distribution of a tax between buyers and sellersrefer to the graph shown. given the same supply elasticity, the burden of a 10 percent tax would be borne the most by the consumer in seg
- How do the relative elasticities of supply and demand determine tax or subsidy incidence?Suppose in the market for cigarettes, the price elasticity of supply is 2.4 and the price elasticity of demand is −0.8. If an excise tax is imposed on sellers of cigarettes, then _____. a buyers and sellers will pay equal shares of the tax b buyers will pay a greater share of the tax than sellers will c buyers will pay the whole tax d sellers will pay a greater share of the tax than buyers will e sellers will pay the whole taxThe greater the elasticity of demand, the smaller the deadweight loss of a tax. True False
- Determine burden of the tax (or the incidence of the tax that falls on consumers and producer). Who gets most of the burden of the tax. Answer on the basis of elasticity. How much tax revenue is expected by the government to be raised for this good per year?The government imposes a per-unit tax of 4 sheqles on banana and demand for banana is elastic. Calculate the consumer and producer share of tax burden and explain it on the graph?Can you explain why I got this wrong? I thought that if the supply was more inelastic then the employers would bear more of the tax? Im confused.