Economics
JAMB 1980
If the government is interested in raising the highest revenue from a tax system, then for any two commodities
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A.
It is better to tax one whose demand is more elastic
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B.
It is better to tax one whose demand is more inelastic
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C.
Revenue will be the same from both commodities
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D.
It is not possible to say which will yield higher revenue
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E.
Government cannot make much revenue from taxing commodities
Correct Answer: Option B
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