If state decided to place tax on home heating oil

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Reference no: EM131240518

If a state decided to place a tax on home heating oil, over time:

a) demand would become less elastic and tax revenue would decline.

b) demand would become more elastic and tax revenue would decline.

c) demand would become less elastic and tax revenue would increase.

d) demand would become more elastic and tax revenue would increase.

Reference no: EM131240518

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