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Economics-2014: Daily Answer Writing Challenge – 15

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19 September 2014

Q1) How does the burden of tax distribution between buyers and sellers in the ratio of elasticity of demand and that of supply takes place? (200 words)

Q2) What are the ways in which a perfectly competitive market may become imperfect? Examine whether advertisement helps an imperfectly competitive market become a perfectly competitive one ?(200 words)
Q3) “Subjective approach to taxation leads to least aggregate sacrifice principle” Elucidate. Also give the limitations of principle.  (200 words)