Government is considering imposing taxes on the sellers

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"The government is considering imposing taxes on the sellers of certain classes of products. The first tax they are considering is a tax on 2% milk. The second is a tax on all dairy products. The third is a tax on all food products. Which of these three taxes would you expect to have the largest impact on the sticker prices of the taxed products and why?"

Since food is a necessity, would it see the higher sticker prices? Or since 2% milk is a small base product?

Reference no: EM131002566

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