Why type of good are the best choice for levying or applying an excise tax? A. Goods that are considered “luxury goods” (boats, fragrances, designer-label clothing) B. Goods that are relatively inexpensive C. Good with very few substitutes (I.e., tobacco, alcohol, pharmaceuticals) D. Goods that represent a large share of consumer income in their purchase. E. Good that have many substitutes available.

Why type of good are the best choice for levying or applying an excise tax? A. Goods that are considered “luxury goods” (boats, fragrances, designer-label clothing) B. Goods that are relatively inexpensive C. Good with very few substitutes (I.e., tobacco, alcohol, pharmaceuticals) D. Goods that represent a large share of consumer income in their purchase. E. Good that have many substitutes available.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 23AA

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