Who Bears the Burden of an Excise Tax If Demand

question 9

Essay

Who bears the burden of an excise tax if demand is perfectly inelastic; if supply is perfectly inelastic?
Use graphs in your explanation.

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Definitions:

Practitioners

Individuals actively engaged in a professional field, applying their knowledge and skills to practical situations.

Ideology

A system of ideas and ideals, especially one that forms the basis of economic or political theory and policy.

Advocate

An individual who actively supports or argues in favor of a particular cause or policy.

Personal Credibility

Refers to the level of trustworthiness, reliability, and integrity observed or perceived in an individual by others.