Questions

Only if either demand or supply was either completely elastic or inelastic will the tax burden fall entirely on either the buyer or the seller. Between these 2 extremes, tax incidence varies continuously from a perfectly inelastic supply or perfectly elastic demand, where the sellers assumes the entire burden of the tax to the perfectly elastic supply or perfectly inelastic demand where the buyers bear the entire burden. To better see how the elasticity of supply and demand affects tax incidence, consider a 20% tax on a can of soda. Suppose the government decides that the buyer should pay the 20% tax. Does this mean that the buyers will be paying 20% more, or will sellers have to share some of the tax burden? Since higher prices decrease demand, regardless of the reason for the higher prices, sellers will share some of the burden. How much of the burden will be determined by the elasticity of supply and demand for the product?

The 'Statue of Peace' unveiled by PM Narendra Modi at Pali, Rajathan to mark the 151st birth Anniversary celebrations of Jainacharya Shree Vijay Vallabh Surishwer Ji Maharaj.

Sumo wrestling is the Japan origin game in which the two heavy weight wrestlers fight in a marked circle to throw the opponent out of the circle to win the game. And the two participants in the game are called Sumos.

Hence, sumo wrestling is the national sport of Japan.