From the markets we've examined we might conclude the following:
Effects of an Excise Tax on Market with Inelastic Demand
greater tax burden on consumers
smaller reduction in equilibrium quantity
greater tax revenue
smaller deadweight loss
greater loss of consumers' surplus
Effects of an Excise Tax on Market with Elastic Demand
smaller tax burden on consumers
greater reduction in equilibrium quantity
smaller tax revenue
greater deadweight loss
smaller loss of consumers' surplus

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