Supply Elasticity and Deadweight Loss. Consider the following statement: As the price elasticity of supply increases, the deadweight loss from a maximum price changes. a. Draw two sets of supply and...

Supply Elasticity and Deadweight Loss. Consider the following statement: As the price elasticity of supply increases, the deadweight loss from a maximum price changes.

a. Draw two sets of supply and demand curves, one with a more elastic supply curve.

b. In the case of more elastic supply, is the deadweight loss larger or smaller?