Question 1 You produce Mock-Star energy beverages. You estimate that the price elasticity of demand for your product is 0.7 (in absolute value). Mock-Star currently sells for $2.50 per 20-ounce can. Some legislators are considering placing a $1.00 per can tax on your product. The DWL will be relatively Tax revenue will be relatively Given the price elasticity of demand, your burden of the tax is likely to be relatively

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