1 5 2022 D 10 5 8 All else the same, in which of the following circumstances would the tax revenue collected by the government be the smallest? both demand and supply are relatively price inelastic. O demand is relatively price elastic and supply is relatively price inelastic. demand is relatively price inelastic and supply is relatively price elastic. both demand and supply are relatively price elastic. D All else the same, if the tax in a market increases then normally O the deadweight loss from the tax will increase. the deadweight loss from the tax will not be able to be calculated. the deadweight loss from the tax will not change. O the deadweight loss from the tax will decrease. D 15 10 1 5) Suppose a market is currently in equilibrium and the government sets a price ceiling at a price above equilibrium. Then we can say that O the ceiling is binding and there will be a surplus. the ceiling is non-binding and there will be no shortage nor surplus. the ceiling is non-binding and there will be a shortage. O the ceiling is binding and there will be a shortage