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"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...