Question

With the aid of appropriate diagrams explain incidence of indirect tax when demand is perfectly elastic

Answer 1

Explanation:

When One Party Bears the Tax Burden

If supply is perfectly elastic or demand is perfectly inelastic, consumers will bear the entire burden of a tax. Conversely, if demand is perfectly elastic or supply is perfectly inelastic, producers will bear the entire burden of a tax.

Answer 2

Answer:

Answer is in attachment:-

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