Problem
1. If demand is perfectly elastic, how much of the burden of a one-dollar tax increase would be borne by the seller, and how much would be borne by the buyer?
2. If demand is perfectly inelastic, how much of the burden of a one-dollar tax increase would be borne by the seller, and how much would be borne by the buyer?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.