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A politician wants to tax a good to raise the most revenue for the city. He is choosing between two goods. If Good X has

A politician wants to tax a good to raise the most revenue for the city. He is choosing between two goods. If Good X has a price elasticity of demand of -1.4 and Good Y has a price elasticity of demand of -2.4, which good should he tax? Explain your answer using terms from the unit and also include calculations to support your answer.

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