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Consider the market for rubber bands. A) If the market has very elastic supply and very inelastic demand, how would the burden of a tax
Consider the market for rubber bands. A) If the market has very elastic supply and very inelastic demand, how would the burden of a tax on rubber bands be shared between consumers and producers? Use the tools of consumer and producer surplus in your answer. B) If the market had very inelastic supply and very elastic demand how would the burden of a tax on rubber bands be shared between consumers and producers? Contrast your answer with your answer in part A
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