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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[@zainamubarak8693]

Thank you very much. You explained it so well. No idea why the textbooks make it look so hard.

[@sahajsurana7098]

this video makes the concepts much clearer than other vids

[@rejoicelopuke2814]

This was amazing, thank you.

[@mcast420]

You're making my life easier

[@charmainemathabatha4699]

Crystal clear explanation ❤️thank you

[@user-xm2eh2vp8m]

Thank you!!!!! I appreciate your work!

[@enggasmatullah]

your explanations is made me to learn everything in economics books are just complicated everything for nonsense, Thanks so much

[@kamilokuchmajok7366]

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[@kalejaiyeanuoluwapo3412]

Your explanation was clear. Thank you

[@arunkenta]

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[@unicornjaz7555]

excellent thank you

[@sanchezsimango1999]

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[@ramakrishnan9730]

Excellent explanation thank you very much👍💯✔️

[@avindhya1804]

This was very helpful Thank you..

[@irsyadaminullah1603]

thank you so much for this useful video

[@kelkelkel123]

Thank you!!!

[@bennisterphiri6959]

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[@8octopus763]

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[@teodoravuta3626]

thank you i maybe pass micro exam now

[@nayananetrakar]

how'd it go?

[@petersimpemba1158]

I have got it

[@nomvonglismerced4311]

So...what happens to the tax excised/stolen from the producers? Who gets to keep it and what is done with it? How about we put an excise tax on taxation?

[@fredrickkwesipokudickson3041]

What would be the price paid by consumers if there was no tax, at all?

[@crystal_unclear]

The equilibrium price

[@BrusselBelgie]

What happens on a graph when the governement reduces excise tax ?

[@kakoly7697]

Why 3 dollars again?? Didn't understand 😭😭