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The price elasticity of an upward-sloping supply curve is always

sjbux

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The price elasticity of an upward-sloping supply curve is always

Question 1.

The government of Bassaland is looking for new revenue sources. It is considering imposing an excise tax on two goods: palm wine and diapers. If the price elasticity of demand for the goods are -0.47 and -1.89 respectively, which good should it tax if the goal is to raise revenue? If the government wants to tax only one good, which good should it tax if the goal is to discourage consumption? Explain your answer.

Question 2.

The price elasticity of an upward-sloping supply curve is always

• positive.

• negative.

• greater than one.

• impossible to determine.

Textbook

Microeconomics

Edition: 7^th

Authors: Hubbard, O'Brien

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jrhome1985!

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More solutions for this book are available here

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sjbux Author

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5 years ago

This helped my grade so much Perfect

hpascoe

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Brilliant ツ

zsc999

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Good timing, thanks!

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