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Suppose that the government imposes a tax on heating oil. True or False: The revenue collected from this tax would likely be larger in the

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Suppose that the government imposes a tax on heating oil. True or False: The revenue collected from this tax would likely be larger in the first year after it is imposed than in the fifth year. True False True or False: The deadweight loss from this tax would likely be smaller in the fifth year after it is imposed than in the first year as demand for heating oll becomes more elastic. True False

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