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Suppose the supply of sunscreen lotion is elastic whereas the demand is inelastic. A tax imposed on producers will cause Question 20 Answer a. a
Suppose the supply of sunscreen lotion is elastic whereas the demand is inelastic. A tax imposed on producers will cause Question 20 Answer a. a relatively large decrease in producer surplus. b. a relatively large decrease in consumer surplus. c. an equal amount of decrease in consumer surplus and producer surplus. d. None of the above
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