Problem
1. How do the relative elasticities of demand and supply affect the relative tax burdens of the buyer and the seller?
2. What are the major determinants of the elasticity of demand?
3. When would you want to own a business that sells price-elastic products? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.