hich one of the following statements is/are correct? Select one or more: a. The size of the excess burden depends on whether the taxed good is a necessity or luxury. b. When the price elasticity of demand is relatively elastic, taxes levied should be high. c. It is more efficient to levy low tax rates on a broad tax base than high tax rates on a narrow base. d. Price elastic goods generate more tax revenue in comparison to price inelastic goods provided the tax rate is the same