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Which of the following statements is TRUE A tax and subsidy are similar in that I they both create a deadweight loss II the burden of the tax and benefit

Which of the following statements is TRUE? A tax and subsidy are similar in that: I they both create a deadweight loss. II. the burden of the tax and benefit of the subsidy depend on relative elasticities of demand and supply III. they both change the equilibrium level of output. A) I only B) I and II only C) I, II, and III D) I and III only Answer

Feb 07 2020 View more View Less

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