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A certain product has supply elasticity 0.4 and demand elasticity 2.7. If a tax were placed on the product, what is most likely to happen

A certain product has supply elasticity 0.4 and demand elasticity 2.7. If a tax were placed on the product, what is most likely to happen
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4 votes
A certain product has supply elasticity 0.4 and demand elasticity 2.7. If a tax were placed on the product, what is most likely to happen

asked
User Hirofumi
by
7.9k points

1 Answer

4 votes

Answer:

Sellers will bear more of the tax burden.

Step-by-step explanation:

answered
User AdelaN
by
8.5k points
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