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The elasticities of demand and supply were equal (in absolute terms) and the tax burden was ... #2 Demand was not as elastic as supply
The elasticities of demand and supply were equal (in absolute terms) and the tax burden was ... #2 Demand was not as elastic as supply and more of the tax burden was paid by consumers. True, but make this specific by using the numbers you got for the elasticities and the tax burdens. #2 Supply was ________ times as elastic as ___________. Consumers paid ___________ times as much of the tax as ____________.
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