4. Consider market for medicine and luxury cars. Assume government decides to impose a tax on buyers of both goods. Using supply, demand and elasticity concepts, explain in which case deadweight loss of taxation will be larger?

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A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

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A:

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A: Answer- "Thank you for submitting the question. But ,we are authorized to solve only 3 sun parts…

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A: Since you have asked multiple question, we will solve the first question for you. If you want any…

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