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To fully understand how taxes affect economic well-being, we must compare the:
(i) consumer surplus to the producer surplus.
(ii) price paid by buyers to the price received by sellers.
(iii) consumer surplus to the deadweight loss.
(iv) reduced the welfare of buyers and sellers to the revenue raised by the government.
To fully understand how taxes affect economic well-being, we must compare the:
(i) consumer surplus to the producer surplus.
(ii) price paid by buyers to the price received by sellers.
(iii) consumer surplus to the deadweight loss.
(iv) reduced the welfare of buyers and sellers to the revenue raised by the government.
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Lelia LubowitzLv2
28 Feb 2020
Jeffrey
JD Candidate at Stanford Law School18 Jun 2020
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