Micro: Unit 1.5 -- Excise Taxes and Tax Incidence
Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
Explain how the use of an excise tax changes price level and quantity in a market, as
well as the pros and cons of excise taxes and why excise taxes are used in the product
market
Demonstrate how to calculate total revenue, tax revenue, net revenue, and the tax
incidence in a product market, and then use labeling on the graph to identify areas of tax
incidence
Discuss how elasticity and inelasticity of demand affects the total revenue, tax revenue,
and the tax incidence in a product market, and then shade in areas on the graph to in
Highlight how to identify the areas of total revenue, tax revenue, net revenue, and tax
incidence on a supply and demand graph
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