14. Good Elasticity Cigarettes .5 | Liquor | .3 Wine ! 1.4 | Beer | 1.3 Refer to the table above to answer question this question. a. A local government is looking to raise some additional tax revenue. Assuming people cannot shop for alcoholic beverages or cigarettes out of town, on which good should the government impose a tax? Explain your answer. b. How would your answer change if the goal of the government is to deter use of one of the above products? Explain. 15- a. Sketch a \"generic\" supply and demand in the labor market. Label the equilibrium wage rate and equilibrium quantity of labor. Now sketch in a minimum wage [a price floor}. b. How sltetch a graph where both supply and demand for labor are quite inelastic. Compared to the graph in a, what happens when a minimum wage is imposed now? c. How sketch a graph where both supply and demand for labor is quite elastic. Compared to the graph in b1 what happens when a minimum wage is imposed now? EXTRA CREDIT In the IQED's, coffee came in one-pound cans. Today, most coffee comes in 1 1-ounce cans. What is the explanation? Can you name other products whose standard size has shrunlt