WAEC - Economics (2018 - No. 36)
in order to increase revenue, government should tax commodities for which demand is?
perfectly price inelastic
price inelastic
price elastic
unitary elastic
Paskaidrojums
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.