Question: Plzz answer the qus...Thank u Part 2: (16 pts.) 1. Explain in details: Although government impose taxes on buyers, why do both buyers and sellers

Plzz answer the qus...Thank u

Part 2: (16 pts.) 1. Explain in details: Although government impose taxes on buyers, why do both buyers and sellers share burden of taxes? (4 pts.) 2. Explain in details: Comparing the price-elasticity of demand for cigarette to that of chicken, which product's quantity demanded is likely to be more elastic to price? and why? (4 pts.) 3. Explain in details: Due to the current outbreak of COVID-19 Pandemic, Thai people are rushing to buy masks after an announcement by Thai government mandatorily requiring Thais must wear masks otherwise they would be monetarily punished. At the same time, the government are providing financial support (subsidizing) to companies for the mask production. Analyze the impacts of these changes on market price and quantity in mask market. Also support your answers with diagrams. (8 pts)

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