The price elasticity of demand for a product is 1.6. The price elasticity of supply is 0.2. If the government imposes a tax on this product, which of the following is most accurate? Question 37 options: Buyers will pay all of the tax. Sellers will pay all of the tax. Sellers will pay some of the tax, but buyers will pay more of it. Buyers will pay some of the tax, but sellers will pay more of it