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The price elasticity of market demand is =0.3 and the price elasticity of market supply is =0.15. If the government imposes a specific tax of

The price elasticity of market demand is =0.3 and the price elasticity of market supply is =0.15. If the government imposes a specific tax of $4.50 on producers, by how much will the market price rise?

Group of answer choices

$3.00

$1.50

$4.00

$4.50

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