Elasticity and Taxes

This assessment question has two layers. First to answer the question correctly, the student must understand elasticity. Second, the student must understand that the tax burden is a function of the interplay between the price elasticity of demand and the price elasticity of supply. Unless your students are well-prepared and already understand this concept well, it is a good idea to illustrate the correct answer graphically to reinforce understanding.

Course Used: Principles of Micro
Quiz Nature: Discussion Starter
Question Length: 1
Estimated Time to Play: Anywhere from 2 to 10 minutes depending on how much follow-up is needed.

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