Questions

Only if either demand or supply was either completely elastic or inelastic will the tax burden fall entirely on either the buyer or the seller. Between these 2 extremes, tax incidence varies continuously from a perfectly inelastic supply or perfectly elastic demand, where the sellers assumes the entire burden of the tax to the perfectly elastic supply or perfectly inelastic demand where the buyers bear the entire burden. To better see how the elasticity of supply and demand affects tax incidence, consider a 20% tax on a can of soda. Suppose the government decides that the buyer should pay the 20% tax. Does this mean that the buyers will be paying 20% more, or will sellers have to share some of the tax burden? Since higher prices decrease demand, regardless of the reason for the higher prices, sellers will share some of the burden. How much of the burden will be determined by the elasticity of supply and demand for the product?

The answer here is 1.

Logic Followed in the given puzzle ::

The logic here is the number of circles in each 4 digit number mentioned.

8801 has 5

5261 has 1

and so on

 Liberty , Equality and Fraterenity

Here from the above options, Algae is an Autotroph.

Autotrophs : 

An Autotroph is also called as Producer, is an organism that produces complex organic compounds from simple substances present in its surroundings, generally using energy from light or inorganic chemical reactions.

Himachal Pradesh

From the given options, Though is the only word which gives sense for the sentence. Hence, Though pompous he was an entertaining person.