9. What is the tax incidence of an excise tax when demand is highly inelastic? Highly elastic?...
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9. What is the tax incidence of an excise tax when demand is highly inelastic? Highly elastic? What effect does the elasticity of supply have on the incidence of an excise tax? What is the efficiency loss of a tax, and how does it relate to elasticity of demand and supply? LO20.7
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