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Which of the Following Was Propounded by Prominent Legal Scholars

question 76

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Which of the following was propounded by prominent legal scholars, recruited by the American Law Institute?

Understand the implications of specific taxes, such as excise taxes, on market efficiency and public welfare.
Understand the concept of deadweight loss due to taxation and its calculation.
Grasp the effects of tax elasticity on demand and supply and the resultant deadweight losses.
Comprehend the ability-to-pay and benefits principles of taxation.

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