1. Describe what is meant by an excise tax. Give an example. What is meant by...

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Answer 1

Answer #1

1. In simple words ,excise tax can be said to be as an indirect of tax that is imposed a certain type of sale or manufacturing of goods or services .

for example excise tax on cigarettes

It also causes fall in quantity demanded sometimes

2. Tax incidence is the distribution of tax between the buyers and the sellers .

it affects the price elasticity of supply as well as the price elastic city of demand

Answer 2

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