Economics · Economics
Which of the following best describes the 'Ramsey Tax Rule'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1High taxes on essential goods.
- 2High taxes on goods with inelastic demand.✓
- 3High taxes on goods with readily available substitutes.
- 4High taxes on luxury goods.
Correct answer
High taxes on goods with inelastic demand.
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