Tuesday, October 6, 2015

Micro & Macro. Chapter 6 【Supply, Demand, and Government Policies】

1. The language of price controls


2. Price controls in the Florida orange market


3. Effects of rent control


4. Minimum wage legislation


5. Calculating tax incidence


6. Who should pay the tax


7. Effect of a tax on buyers and sellers
(There is also a new version for this, right after the following picture)


New Version:
The following graph shows the daily market for jeans. Suppose the government institutes a tax of $20.30 per pair. This places a wedge between the price buyers pay and the price sellers receive.



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