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Notes from the Sections
Author(s) -
Mary H. Lesser
Publication year - 1921
Publication title -
journal of the society of dyers and colourists
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.297
H-Index - 49
eISSN - 1478-4408
pISSN - 0037-9859
DOI - 10.1111/j.1478-4408.1921.tb01110.x
Subject(s) - citation , computer science , library science , information retrieval
Section 2 (Supply and Demand) Algebraic and graphical representations of demand and supply functions are used to examine properties related to a market’s equilibrium. The problems illustrate, perhaps surprisingly, what happens at equilibrium when a per-item tax is imposed on the supplier, and when the same tax is levied on the buyer. The notion of elasticity is used to explain why the fraction of the tax borne by the buyer is the same in each scenario, as is the fraction of the tax borne by the supplier.