(Answered) Market for alcohol in a large metropolitan area

Economics

Question: Suppose that the market for alcohol in a large metropolitan area, the local government is concerned about the number of DUI's and has decided to impose a sin tax on alcohol sales. If demand in this market is inelastic and supply is elastic, what would be the result of this tax? Draw a graph illustrating who how consumers and sellers in this market would share the burden of the tax. Be detailed in your response and provide examples also.

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Basic Economics, Economics

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