Question

Explain how the burden of a tax on buyers differs between a market with a more elastic demand and one with a more inelastic demand, all else equal.

Answer 1

--->In a market with more elastic demand,people can find more substitutes products. So if price of a product increases then consumers can easily find substitute product which might be cost less thereby having less burden on them,otherwise consumers have to bear hihg cost product which can include more taxes.

-->In a market with less elastic demand or inelastic demand,people find less or no substitute product.So in this market,people has no alternatives and has to bear high prices with high tax burden.