Ecn 104 final notes - Study guides, Class notes & Summaries

ECN 104 Final Notes with Complete Solutions 2024/2025 Latest Update When does a excise tax fall mainly on producers? - Answer- when the price elasticity of demand is higher than elasticity of supply When does a excise tax fall mainly on consumers? - Answer- when the price elasticity of supply is higher than the price elasticity of demand Will doubling the excise tax rate on a good or service double the amount of revenue collected? - Answer- no, because the tax increase will reduce the qu...