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DIRECT TAXES
A direct tax is one where the impact and incidence of the Tax is on the same person e.g. Income Tax, death or estate duty, corporation taxes and capital gains taxes. It can also be defined as the tax paid by the person on whom it is legally imposed.
This means on whom the tax is imposed.
This means who has to bear the burden of the tax, i.e. who finally pays the tax.
The Learned Book Company has a choice of publishing one of two books o the subject of Greek mythology. It expects the sales period for each to be extremely short, and it estimates
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p=10, TC= 1000+2Q+.01Q^2, Q=?
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