Market interference, taxes

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Department
Agriculture + Resrce Econ
Course
AREC 202
Professor
Christopher Goemans
Semester
Fall

Description
23 September Ways government interferes in market Price ceilings Price floors Quotas Maximum quota Minimum quota Taxes If we implement a tax Price rises Equilibrium quantity goes down Supply – marginal cost of each unit Demand – marginal benefit of each unit Sales tax Tax on consumption Excise tax Tax on production Per unit taxes – each unit produced / purchased has the same $ amount of tax on it Ad Variorum – tax as a % of final price Per unit sales tax forces consumers to pay $1 for each pack The $1 tax does not affect your
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