B) If the price elasticity of demand is zero, then all of the tax burdens fall on the sellers (perfectly inelastic).
<h3><u>How does price elasticity work?</u></h3>
A measure of a product's consumption change in response to a price change is called price elasticity of demand. Price elasticity is a tool used by economists to analyze how changes in a product's price affect its supply and demand. Supply has an elasticity similar to demand, and it's called the price elasticity of supply.
The relationship between a change in supply and a change in price is referred to as price elasticity of supply. By dividing the percentage change in quantity supplied by the percentage change in price, it is determined. What products are produced at what prices depends on the interaction of the two elasticities.
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Answer: I honestly have no clue man, i honestly think your completely out of luck, sorry i couldn’t help.
Explanation:
in order to have a profession you need to get an education first ... if you start out working along side someone,that someone is giving you an education in how to do the job you want to do. if you are planning a profession such as a doctor or a lawyer , prepare yourself for a lot of education..
Answer:
Demand drops to zero
Explanation:
Infinite elasticity of demand is also called perfect elasticity of demand.
In this scenario the demand for a product is attached to it's price.
There is an infinite change in the quantity demanded as a result of change in price.
Graphically it is a horizontal demand curve as represented in the attached
Even a small increase in price will cause demand to fall to zero.
Examples are luxury goods such as high end cars and expensive jewelry.
False
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