ECO 365 Week 2 participation Principles of Microeconomics, Ch. 8: Application: The Costs of Taxation

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ECO 365 Week 2 participation Principles of Microeconomics, Ch. 8: Application: The Costs of Taxation
ECO 365 Week 2 participation Principles of Microeconomics, Ch. 8: Application: The Costs of Taxation
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ECO 365 Week 2 participation Principles of Microeconomics, Ch. 8: Application: The Costs of Taxation

Read Ch. 8 of Principles of Microeconomics:

  • 8-1 The Deadweight Loss of Taxation, pp. 156-160

  • 8-2 The Determinants of the Deadweight Loss, pp. 160-163

  • 8-3 Deadweight Loss and Tax Revenue as Taxes Vary, pp. 163 

Consider the following as you read:

  1. Consider how taxes affect welfare and the economic well-being of participants in a market.

  2. Consider how taxes affect economic well-being by comparing the reduced welfare of buyers and sellers to the amount of revenue the government raises.