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Jan 3, XXXXXXXXXXIn what sense is taxing food a “good” way to raise revenue? In what sense is it not a “good” way to raise revenue? ask a similar question» ...

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Jan 3, XXXXXXXXXXIn what sense is taxing food a “good” way to raise revenue? In what sense is it not a “good” way to raise revenue? ask a similar question» ...
Answered Same Day Dec 20, 2021

Solution

David answered on Dec 20 2021
125 Votes
In what sense is taxing food a “good” way to raise revenue? In what sense is it not
a “good” way to raise revenue? ask a similar question» ...
Answer:
Food is a necessity to everyone. Because of that, it has inelastic demand i.e. the
demand of food would not change by much even if its price...
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