Impact on the equilibrium price and quantity of skateboards

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Reference no: EM131202008

If certain jurisdictions ban the use of skateboards on city streets and parks, how would the demand curve and/or the supply curve for skateboards be affected? What would be the impact on the equilibrium price and quantity of skateboards? It is argued that the demand for flu shots is almost perfectly inelastic. (Supply is much more elastic.)

The federal government taxes flu shots. While consumers and insurance providers strongly oppose these taxes, lobbyists for the vaccine producers are silent. Use a market graph to explain why. (hint: who bears the burden of the tax?)

Reference no: EM131202008

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