Illustrate the effectiveness in reducing consumption

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Q. f an oligopolist's several rivals exactly match any price changes it initiates, the demand curve will be less elastic than if its price changes are ignored by its rivals.

Q. Use the Supply and Demand model to illustrate the effects on competitive market equilibrium, of the imposition of a per unit indirect (sales) tax on a particular commodity.

Suppose the government intends the tax to reduce the consumption of some goods for example, cigarette or chewing gum. Illustrate what will determine the effectiveness of the tax in reducing consumption?

Reference no: EM1346890

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