Economy, asked by iamuser, 9 months ago

Discuss the importance of elasticity in taxation method?

Answers

Answered by gshweta1514

0

Answer:

It enables the business in general and the monopolists in particular to fix the price. Studying the nature of demand the monopolist fixes higher prices for those goods which have inelastic demand and lower prices for goods which have elastic demand. In this way, this helps him to maximize his profit.

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