2017sp-ec201-lec06-04-20.pptx - Taxes and Subsidies...

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Taxes and Subsidies Professor Keaton Miller Office: 535 PLC Hours: 1:30 – 3:30 PM on Tuesday E-mail: [email protected]
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Announcements HW 3 due Tuesday, 11:45 PM, includes Excel assignment, worksheet is in “Files” on Canvas
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What is a tax? A tax is a wedge between the price a consumer pays and the price the producer receives P D = tax + P S To find equilibrium under tax, find quantity where distance between demand and supply equals the tax
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