If the demand for a commodity is perfectly elastic, the i...
If the demand for a commodity is perfectly elastic, the incidence of a tax on that commodity will be, other things being equal, entirely on the______
Buyer
Seller
Government
Local authority
Correct answer is B
The seller or producer will bear the whole burden of taxation. Any attempt to increase price will make the demand for the commodity to fall to zero.
If the coefficient of price elasticity of demand is 0.1, demand is ...
One of the main achievements of the Economic Commission for Africa is ...
In calculating mean one should ...
One of the advantages of large scale production is that ...
Among the disadvantages of the one-man business is the fact that______ ...
The law of variable proportions is applicable only ...
The following are advantages of sole proprietorship except ...