“The Demand for beer is more elastic than the demand for milk. Would a tax on beer or a tax on milk have a larger deadweight loss. Briefly explain…

“The Demand for beer is more elastic than the demand for milk. Would a tax on beer or a tax on milk have a larger deadweight loss. Briefly explain why. Next, use your own hypothetical example to explain deadweight losses and the gains from trade”

================================================================="The Demand for beer is more elastic than the demand for milk. Would a tax on beer or atax on milk have a larger deadweight…

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