Answer question (d) again but with the new demand P=500-2Q. You will find that the burden of the tax is shared differently than it was before (in...

Answer question (d) again but with the new demand P=500-2Q. You will find that the burden of the tax is shared differently than it was before (in question (d)). How is the result related to the change in the elasticity of demand? Explain briefly.

Question d (For reference): With the tax (t=120) in effect, calculate quantity sold, the price paid by the buyers and the price received by the sellers in equilibrium. Show work.

Pd: P=700-4Q

Ps: P=100+2Q