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Guest Guest
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5 years ago

Question 1.

If a soda tax is implemented and demand for soda is price elastic, the decline in equilibrium quantity would be ________ and the increase in equilibrium price would be ________ than if demand were inelastic.

• larger; larger

• larger, smaller

• smaller; larger

• smaller; smaller

Question 2.

If a soda tax is implemented and demand for soda is price elastic, the effect on discouraging soda consumption would be ________ and ________ tax revenue would be collected than if demand were inelastic.

• larger; more

• larger; less

• smaller; more

• smaller; less
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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austireaustire
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5 years ago
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