Economics · Economics
In a perfectly competitive market, if a tax is imposed on a commodity and the ultimate burden is shared equally between the buyer and the seller, what will be the price elasticity of demand?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1ep > 1
- 2ep = 1
- 3ep = ∞✓
- 4ep = 0
Correct answer
ep = ∞
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