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Illustrate the effect of a tax imposed on consumer and producer surpluses in 2 different settings: 1. where the elasticity of demand is greater

Illustrate the effect of a tax imposed on consumer and producer surpluses in 2 different settings: 1. where the elasticity of demand is greater than the elasticity of supply, 2. where the elasticity of demand is less than the elasticity of supply. Give real world examples of a market that is well represented by each of your graphs and explain who bares more of the tax burden.

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