The governor wants to impose a $1 excise tax on some good-he doesn't care which-but he does want to minimize the deadweight loss.The deadweight loss will be least when:
A.both demand and supply curves are elastic.
B.the demand is elastic and supply is inelastic.
C.the demand is inelastic and supply is elastic.
D.both demand and supply are inelastic.

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The Answer of The governor wants to impose a $1 excise tax on some good-he doesn't care which-but he does want to minimize the deadweight loss.The deadweight loss will be least when:
A.both demand and supply curves are elastic.
B.the demand is elastic and supply is inelastic.
C.the demand is inelastic and supply is elastic.
D.both demand and supply are inelastic.

The Governor Wants to Impose a $1 Excise Tax on Some