If supply and demand both have an elasticity of .04 then: Any excise tax will be

Question

If supply and demand both have an elasticity of .04 then: Any excise tax will be roughly equally split between them. A binding price ceiling will result in a relatively small shortage. A binding price floor will result in a relatively small surplus. All of the above. If supply and demand both have an elasticity of .04 then: If supply and demand both have an elasticity of .04 then: Any excise tax will be roughly equally split between them. A binding price ceiling will result in a relatively small shortage. A binding price floor will result in a relatively small surplus. All of the above. Any excise tax will be roughly equally split between them. A binding price ceiling will result in a relatively small shortage. A binding price floor will result in a relatively small surplus. All of the above. Any excise tax will be roughly equally split between them.

Explanation / Answer

Any excise tax will be roughly equally split between them.

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