Elasticity of demand and it's application for government in impossing taxes
Project work
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Elasticity of demand can be defined as percentage change in the quantity demanded with respect to percentage change in the price of that product. The government uses this concept to determine the tax incidence of each product which depends upon the price elasticities of demand and supply of the product. The more inelastic demand and supply, higher the tax revenue and vice- versa
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Elasticity of demand can be defined as percentage change in the quantity demanded with respect to percentage change in the price of that product. The government uses this concept to determine the tax incidence of each product which depends upon the price elasticities of demand and supply of the product. The more inelastic demand and supply, higher the tax revenue and vice- versa
Currently at this platform we do not cater to project work but this might help you.
Keep Posting.
Regards