Economics · Microeconomics
In a perfectly competitive market, if the final burden of a tax levied on a commodity is shared equally (half-half) between the buyer and the seller, then what will be the price elasticity of demand (e p ), assuming supply is perfectly elastic?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1e p >1
- 2e p =1✓
- 3e p =∞
- 4e p =0
Correct answer
e p =1
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