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elasticity of supply?

Posted on February 1, 2017 by admin

elasticity of supply?

1. Why is the relative size of crowding out inefficiencies dependent only on the elasticity of demand and not on the elasticity of supply?
2. What happens to the equilibrium price and quantity of a good when a tax is imposed on the good? Why does a tax create a wedge between the price the consumer pays and the price the producer receives?

elasticity of supply?

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