How does the elasticity of supply influence the incidence of a tax, the quantity bought, the tax revenue, and the deadweight loss?

What will be an ideal response?

The more elastic the supply for a given demand the larger the increase in the price paid by the buyers and the smaller the decrease in the price received by the sellers, which means that the incidence on buyers is larger. Additionally, the more elastic the supply, the smaller the quantity bought so the smaller the tax revenue and the larger the deadweight loss.

Economics

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Fractional reserve banking is the system that

A) allows banks not to insure their deposits. B) allows banks not to join the Federal Reserve System. C) limits banks' activities from crossing state lines. D) allows banks to keep smaller reserves than their deposits.

Economics