TWO MC QUESTIONS

Cars may be categorized as a normal good. Which of the following may represent the income elasticity of demand for cars? 0.4 -0.3 -0.5 Al of the above Question 19 (1 point) Under an excise tax, the price paid by the consumer is not equal to the price received by the producer because the difference in these prices is the Deadweight loss of the tax Per unit excise tax UD Total tax revenue generated None of the above