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If the demand for a good is price inelastic, how does an increase in taxes on that good impact the tax revenue? Question 24Answer a.
If the demand for a good is price inelastic, how does an increase in taxes on that good impact the tax revenue? Question 24Answer a. An increase in tax revenue collected. b. A decrease in tax revenue collected. c. No change in tax revenue collected. d. Elasticity has no impact on tax revenue
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
