Refer to Scenario 1. Which of the statement is true?

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Refer to Scenario 1. Which of the statement is true?

Consumers bear less of the tax burden if the demand is more inelastic than the supply.

0%

Consumers bear less of the tax burden if the demand is more elastic than the supply.

100%✨

Consumers and sellers equally share the tax burden regardless of the difference in demand and supply elasticities.

0%

None of the above

0%

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