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Doctors Medicines MCQs Q&A

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
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Option 3 : Both 1 and 2

  • Both the statements are correct with reference to tax impact on inelasticity of supply and demand.
  • A tax will shift forward to consumers if the demand is inelastic relative to supply and tax will shift backward to producers if the supply is relatively more inelastic than demand.
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