In Most Cases, the Fact That One of the Market

question 23

Essay

In most cases, the fact that one of the market curves is perfectly inelastic is not sufficient to conclude that a per-unit tax in that market is efficient.A tax on land rents is an exception.Can you explain why?

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Definitions:

Tsunami

A tsunami is a series of ocean waves with extremely long wavelengths caused by large-scale disturbances such as underwater earthquakes, volcanoes, or landslides.

Ground Ruptures

Cracks or breaks in the Earth's surface caused by seismic activity, such as earthquakes, which can lead to significant damage to the built environment.

Seismic Station

A facility equipped with seismographs and other instruments to detect and record earthquakes and other ground vibrations.

Epicenter

The point on the Earth's surface directly above the focus of an earthquake, where the seismic waves are felt most strongly.