Discuss the impact of tax on price of bananas in scenario, Microeconomics

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Discuss the impact of tax on price of bananas in scenario

Problem

Consider a $0.10/pound sales tax on bananas, currently selling for $1.29 a pound. Explain the impact of this sales tax under two different demand conditions - one relatively elastic and one relatively inelastic. Be sure to discuss the impact of the tax on the price of bananas in each scenario.

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Microeconomics: Discuss the impact of tax on price of bananas in scenario

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Microeconomics: Discuss the impact of tax on price of bananas in scenario

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