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cowgyrlup124
18.03.2021 •
Business
Fill in the following table with the quantity sold, the price buyers pay, and the price sellers receive before and after the tax.
tudy Tools
Quantity
(Pairs of jeans)
Price Buyers Pay
(Dollars per pair)
Price Sellers Receive
(Dollars per pair)
Before Tax
S
After Tax
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Using the data you entered in the previous table, calculate the tax burden that falls on buyers and sellers, respectively, and calculate the price
elasticity of demand and supply throughout the relevant ranges using the midpoint method. Enter your results in the following table.
Tax Burden
(Dollars per pair)
Elasticity
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Buyers
Sellers
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The burden of the tax falls more heavily on the elastic side of the market.
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