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Unformatted text preview: a. Solving for P and Q in the permit market. b. Solving for firm costs. Chapter 15: Public Goods and Common resources i. Definition ii. Efficiency iii. Solutions iv. Free Rider Problem Chapter 17: Taxes i. Taxes on consumers ii. Taxes on producers iii. Tax burden iv. Consumer surplus, producer surplus, government revenue, total surplus, and DWL. Chapter 18: International Trade i. Efficiency of free trade vs. a closed economy (no trade) ii. Who gains and who loses under trade (it depends on the world price) a. What are the incentives to limit trade (who wants to limit trade policy in each case?) iii. TariffsTrade policy a. What is the change in efficiency compared to free trade? b. Who gains and who loses. Chapter 15: Incomplete Information i. Adverse Selection ii. Moral Hazard iii. Market for lemonsunravels....
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- Fall '06