A direct tax is on a _____, while an indirect tax is on a _____.
Fill in the blank(s) with the appropriate word(s).
person; thing
Economics
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State the law of demand and explain why the other-things-equal assumption is critical to it
Please provide the best answer for the statement.
Economics
Why is the monopolistic competitor’s demand curve more elastic than a pure monopolist’s, but less elastic than a pure competitor’s? What factors determine the price elasticity of demand for a monopolistic competitor?
What will be an ideal response?
Economics