Ebenezer Scrooge has just been elected the new President of Christmasland. As his first action he is thinking of introducing an excise (or commodity) tax on Santa hats or Christmas lights. The demand and supply curves for both products are shown on the graphs below. Use the graphs to answer the questions that follow. You can move the graphs. but they will not be graded. Price of Santa Hats (S) Price of Christmas Lights (3) 12 What would be the total Supply Supply deadweight loss of a $3 tax on 10 Santa hats? Number 3000 Demand What would be the total deadweight loss of a $3 tax on Demand Christmas lights? 2000 4020 LOOUD 5060 1:00 Number Quantity Santa Hats Quantity Christmas Lights $ 1500 The deadweight loss for Santa hats and Christmas lights is different because the graph with the higher deadweight loss has a more... O inelastic demand curve. inelastic supply curve. OO elastic supply curve. Correct. O clastic demand curve