The elasticity of supply of gasoline is 1.43 and the elasticity of demand of gasoline is 2.57. If the government set a tax of $1.2/ gallon is 1.43 and the elasticity of demand of gavotine was 2.57. If the a. 50.77 b. $0.43 c. $1.20 d. $0.31 2. If P=600.03Qd and P=20+0.02Q, the price elasticity of demand and price elasticity of supply at equilibrium would be a. 2 and 2.5, respectively. b. 4 and 2 , respectively. c. 1.5 and 2.25, respectively. d. 2 and 4 , respectively