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If the Demand Curve Is Very Elastic and the Supply

question 38

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If the demand curve is very elastic and the supply curve is very inelastic in a market, then the sellers will bear a greater burden of a tax imposed on the market, even if the tax is imposed on the buyers.


Definitions:

Get & Transform

A feature in Excel that allows users to import, clean, and transform data from various sources for analysis.

Insert Table

An action or command in document processing and spreadsheet software that allows users to create a table structure within a document or sheet.

Promote

To support or actively encourage the progress, growth, or acceptance of something.

Demote

In organizational terms, to reduce someone's rank or position; in software or digital content creation, it refers to decreasing the importance or level of an item in a hierarchical structure.

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