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

[@mcast420]

You're making my life easier

[@charmainemathabatha4699]

Crystal clear explanation ❤️thank you

[@enggasmatullah]

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

[@rejoicelopuke2814]

This was amazing, thank you.

[@sanchezsimango1999]

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[@ЛяззатАбеуова-е1я]

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

[@ramakrishnan9730]

Excellent explanation thank you very much👍💯✔️

[@kamilokuchmajok7366]

your explanation is clear
thank you!!

[@kalejaiyeanuoluwapo3412]

Your explanation was clear. Thank you

[@avindhya1804]

This was very helpful Thank you..

[@arunkenta]

Great video!

[@kamohelomphuti4227]

you are the best sir!!!!!!!!!

[@irsyadaminullah1603]

thank you so much for this useful video

[@kelkelkel123]

Thank you!!!

[@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?

[@unicornjaz7555]

excellent thank you

[@bennisterphiri6959]

thank you

[@BrusselBelgie]

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

[@8octopus763]

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[@teodoravuta3626]

thank you i maybe pass micro exam now

[@nowhipallnaynay]

how'd it go?

[@fredrickkwesipokudickson3041]

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

[@crystal_unclear]

The equilibrium price

[@petersimpemba1158]

I have got it

[@kakoly7697]

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