If the Government Puts a $3 Excise Tax on a Product

question 138

Essay

If the government puts a $3 excise tax on a product and as a result,the price rises by $2.50.Is the demand elastic or inelastic? Explain

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Definitions:

South Carolina

A state in the southeastern United States known for its shores, historical significance, and role in both the American Revolution and Civil War.

African Slaves

People from Africa who were forcibly transported to the New World and sold into chattel slavery, primarily between the 16th and 19th centuries.

Rice Cultivation

The practice of growing rice as a crop, which is a staple food in many parts of the world, especially in Asia.

Louisiana Code Noir

A set of laws enacted in 1724 governing the conduct, treatment, and legal status of slaves in the French colony of Louisiana.