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When demand is inelastic, consumers are less responsive to price changes. Therefore, even with the tax-induced price increase, the quantity demanded of sugary drinks will decrease only slightly. However, since the tax is applied to each unit sold, the government will collect more tax revenue due to the relatively stable demand.
What was inaugurated by Union Minister Anurag Thakur in New Delhi?
Which scheme was inaugurated by Union Home Minister Amit Shah for registration and payment of tur dal producing farmers?
Which Indian city is set to host a joint roadshow by Prime Minister Modi and French President Macron?
When is Safer Internet Day observed in 2024?
Which organization has REC Limited signed an MoU with to finance infrastructure projects?
Who was Sarojini Naidu?
Which country ranked second in the newly developed World Cybercrime Index?
When is Abraham Lincoln’s Birthday celebrated?
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Which two organizations signed an MoU to support persons with disabilities (PwDs) in public spaces?