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16. If price elasticity of demand for good X is 2 and the price elasticity of...

16. If price elasticity of demand for good X is 2 and the price elasticity of supply for good X is 3; if an excise tax of $40 levied on good x, consumers will end up paying _______ and producers paying __________.

  

$15; $25

$16; $24

$25; $15  

$24; $16

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