Micro

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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