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Dollar amount the seller will pay

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The government has placed a $10 per item tax on cat sweaters on the sellers. Below are the price elasticity of demand and the price elasticity of supply.  For each question, tell the dollar amount of the tax the buyer will pay and the dollar amount the seller will pay.

  1. ED= .3 ES= 1.2
  2. ED= 3.0 ES= 2.0
  3. ED= .5 ES= 1
  4. ED= .5 ES= .5
  5. Can the government determine who bears the burden of the tax? Explain your answer.

Reference no: EM131326644

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