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A commodity with perfectly inelastic demand has the burden of tax borne by 

Economics
WAEC 2024

A commodity with perfectly inelastic demand has the burden of tax borne by 

  • A. both the sellers and the buyers.
  • B. the buyers alone.
  • C. the government alone.
  • D. both the buyers and the government.
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Correct Answer: Option B
Explanation

B: If the price elasticity of demand fo a product is perfectly in elastic, the buyer will pull all the taxes to buyer only.

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