Politicians were talking about decreasing the fuel excise.

Assuming a unit elastic price elasticity of demand for fuel, What would be the changes in equilibrium price, equilibrium quantity and who would benefit from the decrease in fuel excise. What would also be the impact of a lower fuel excise on demand, sellers total revenue and government revenue.

With the concept of demand and supply what happens to the equilibrium price, equilibrium quantity, sellers revenues and tax collected if fuel demand is perfectly inelastic.