Use taxes to raise revenue for public purposes

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Policymakers often use taxes to raise revenue for public purposes and to influence market outcomes. For example, the goal of the sugary drink tax is to reduce obesity and encourage healthy eating. Whether a tax is imposed on sellers or imposed on buyers, they typically share the tax burden. For sellers to bear a grater share of the tax burden (instead of the buyers), how must the elasticity of the demand curve and the elasticity of the supply curve be?

Reference no: EM131246249

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