Economy, asked by nayelisylvia6, 2 months ago

Explain how the concept of elasticity may be applied in economic decisions

Answers

Answered by abhiramsm2005
1

Explanation:

The elasticity of demand also determines to what extent a tax on a commodity can be shifted to the consumer. Thus, the incidence of a commodity tax on the consumers depends on their price elasticity of demand for the commodity.

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