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uantity Price Buyers Pay Price Sellers Receive (Bags of handbags) (Dollars per bag) (Dollars per bag) Before Tax 250 100.00 40.00 After Tax 210 140.00

uantity Price Buyers Pay Price Sellers Receive (Bags of handbags) (Dollars per bag) (Dollars per bag) Before Tax 250 100.00 40.00 After Tax 210 140.00 93.60 Using your answers from the previous table, calculate the tax burden that falls on buyers and on sellers, respectively, and calculate the price elasticity of demand and supply over the relevant ranges using the midpoint method. Enter your results in the following table. Tax Burden Elasticity (Dollars per bag) Buyers Sellers

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