in order to increase revenue government should ... - WAEC Economics 2018 Question
in order to increase revenue, government should tax commodities for which demand is?
A
perfectly price inelastic
B
price inelastic
C
price elastic
D
unitary elastic
correct option: a
An economic situation in which the price of a product will have no effect on the supply. In a perfectly inelastic situation regardless of the amount of a product on the market, the price of the product remains the same.
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