ECONOMICS 110/1111.Provided that the elasticity of supply

| November 24, 2016

True, False of Uncertain and Explain your answer.

ECONOMICS 110/1111.Provided that the elasticity of supply is neither 0 nor infinity, the burden of a per-unit sales tax falls more heavily on producers if demand is inelastic than if demand is elastic.2. In a two good world, an increase in income will result in decreased consumption of at most one good.ECONOMICS 110/1113.A household’s demand curve for a good x is less elastic in the event of a price decrease if its tastes are such that the good is normal than if its tastes are such that the good is inferior.

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