Considerthe two markets, A and B, whose Demand and Supply curves are depicted in the diagram below. Quizzes 2 p Market A Market B Assume both markets are initially in equilibrium with identical equilibrium prices (P0A=POB) and identical equilibrium quantities (Q0A=QOB). The government then imposes an excise tax of $1/unit on goods traded in both markets. Which of the following statements is true? Please select the best response. C7) The incidence of the tax on consumers is higher in Market A than in Market B. C7) The incidence of the tax on producers is lower in Market A than in Market B. C7) The price elasticity ofdemand is relatively higher in Market B compared to Market A. C7) None of the above statements is true