Which of the following are true ?

A. Product taxes will raise prices less under monopoly than under competition

B. A tax on capital income tends to be progressive, whereas tax on wage income tends to be regressive

C. The burden of tax will be distributed between sellers and buyers in the ratio of elasticity of demand to that of supply.

D. A unit tax enters through a parallel downward shift in the supply schedule

E. Imposition of tax raises price and quantity.

Choose the most appropriate answer from the options given below: 

1
A and B only 
2
A, B and C only 
3
A, B, C and D only 
4
A, B, C and E only 

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