Please rank the follow curves as to how they would contribute to deadweight loss if a good that had this elasticity was taxed. Assume the supply curve has elasticity equal to 1.
Most deadweight loss
Least deadweight loss
1. a demand curve with price elasticity of demand equal to 100
2. a demand curve with price elasticity of demand equal to 0.4
3. a demand curve that is perfectly inelastic
4. a demand curve that is unit elastic