Question
a) if %QAB=-25% and %PCD=50% [note: AB and CD are the name of two different products]. What is the relationship between AB and CD? Justify
a) if %QAB=-25% and %PCD=50% [note: AB and CD are the name of two different products]. What is the relationship between AB and CD? Justify your answer.
c) If a product named Z has perfectly elastic supply and downward sloping demand curve, then who will bear the burden of tax? Briefly explain it with a suitable graph.
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Intermediate Microeconomics and Its Application
Authors: Walter Nicholson, Christopher M. Snyder
12th edition
978-1133189022, 1133189024, 1133189032, 978-1305176386, 1305176383, 978-0357687000, 978-1133189039
