Acceptable logotypeECO 2030. Principles of Economics-Price Theory

Deadweight Loss of Taxes

Types
  1. Sales tax
  2. Excise tax

Tax on Seller/Buyer

  1. Price without tax
  2. Price buyers pay
  3. Price sellers pay
  4. Change in quantity
  5. Tax revenue

Welfare Analysis

  1. With/without tax
  2. Consumer surplus
  3. Producer surplus
  4. Tax revenue
  5. Total surplus
  6. Deadweight loss

Elasticity and Deadweight Loss

  1. Supply elasticity
  2. Demand elasticity
  3. Application: Labor supply

Tax Revenue and Deadweight Loss

  1. Small, medium, and large taxes
  2. Supply-side economics