Use the drop-down menu to complete each statement. Elasticity is the measure of how producers and consumers react to changes in price.
A supply is V inelasticy when the quantity of a good supplied does not change as the price changes.
A supply is V elasticy when the quantity of a good supplied increases or decreases as the price changes,
The first answer is Price then Inelastic and lastly Elastic

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answermarginal cost;