Excise tax is tax on specific good-excise tax on gas-liquor

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Do you agree/disagree with the following statement: If the government increases the excise tax on bikes, the prices of bikes will rise? However, this will then cause the demand to decrease and as a result prices will fall back to their original levels. (An excise tax is a tax on a specific good, for example there is an excise tax on gas and liquor.)

Reference no: EM13732396

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