part 1: main idea\nthe government uses excise taxes to\ndecrease the supply of products it doesnt want…

part 1: main idea\nthe government uses excise taxes to\ndecrease the supply of products it doesnt want people to use\nincrease the supply of products it does want people to use\nencourage businesses to invest in new technology\ndiscourage businesses from importing too many resources\n15 multiple choice 4 points\npart 1: main idea\nthe ease of changing production to respond to price change determines\nhow regulated a business is\nhow expensive a product is\nhow elastic a supply is\nhow much fixed costs are

part 1: main idea\nthe government uses excise taxes to\ndecrease the supply of products it doesnt want people to use\nincrease the supply of products it does want people to use\nencourage businesses to invest in new technology\ndiscourage businesses from importing too many resources\n15 multiple choice 4 points\npart 1: main idea\nthe ease of changing production to respond to price change determines\nhow regulated a business is\nhow expensive a product is\nhow elastic a supply is\nhow much fixed costs are

Answer

Brief Explanations:

Excise taxes are levied on specific goods and services. By imposing them on products the government doesn't want people to use, it increases the cost of production and supply decreases. The ease of changing production in response to price changes is a key factor in determining supply - side elasticity. If producers can quickly adjust production levels, supply is elastic; if not, it is inelastic.

Answer:

  1. decrease the supply of products it doesn't want people to use
  2. how elastic a supply is