When an excise tax is imposed on sellers, this will cause the <u>supply</u> curve to <u>shift up and to the left</u>.
Excise duty is one of the six determinants of supply. They shift the supply curve to the left, reducing supply and raising the equilibrium price. The supply curve shifts until the vertical distance between the two curves equal the tax amount.
The effect of the tax on the supply and demand balance is to shift the quantity towards the point where the pre-tax demand minus the pre-tax supply equals the tax amount. A tax increases the price a buyer pays by less than the tax. Similarly, the price received by the seller will be lower, but less than the tax amount.
When a firm's profits increase, it will be more motivated to produce output, because more output means more profit. Therefore, as production costs fall, firms tend to supply larger quantities at a given price for their production. This can also be seen from the right shift of the supply curve.
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Answer:
market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise.
Explanation:
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The answer is that it <span>illustrates most clearly the defense mechanism of reaction formation.
Reaction Formation happens when a man wants to do or say something and afterward really does or says something that is viably the opposite they truly need.A reason for Reaction Formation is the point at which a man looks to conceal something unsatisfactory by embracing an inverse position.
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The legislative branch does.
