When the government imposes an excise tax in a market for a product how do we know which curve supply or demand to shift to show the impact of the tax?

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07-12-2022
Law

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When the government imposes an excise tax in a market for a product how do we know which curve supply or demand to shift to show the impact of the tax?

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YashBhattar YashBhattar · Answer 1 · 2022-12-14T09:16:52-05:00

If producers pay the tax as it is legally imposed, the supply curve will shift.

About Excise Tax

Indirect taxes on the items in the list are known as excise taxes in the US. Federal, state, and local governments have the authority to enact excise taxes, albeit they are not applied uniformly across the country. Alcohol, cigarette products, gasoline, diesel fuel, and other items are subject to simultaneous taxation by several jurisdictions. Many excise taxes are "hidden" in the price of a good or service rather than being disclosed separately because they are sometimes collected from the manufacturer or retailer rather than the consumer.

To know more about Indirect taxes:

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