anal_comp_market

anal_comp_market - Overview: Analysis of Competitive...

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Unformatted text preview: Overview: Analysis of Competitive Markets • Brief Review – Market Equilibrium and Surplus – Examples: Welfare Analysis of Government Intervention • Tax • Quota • The US Sugar Price Support Program – How does it work? – Who are the winners and losers? 1 Market Equilibrium and Surplus Concepts: Market Equilibrium • Demand, Supply, Market Equilibrium • Consumer Surplus, Producer Surplus • Total Revenue 2 Example: Imposition of a Tax Concepts: Imposition of a Tax • Two Prices: Before and After Tax • Equilibrium • Consumer and Producer Surplus • Government Revenue • Dead Weight Loss • Incidence of a Tax (Who pays?) – Fraction ‘paid’ by buyers is Es/(Es – Ed) – “Pass Through Formula” 3 Example: Imports Concepts: Imports • Elastic World Supply • Total Supply • Equilibrium 4 Example: Import Quota Concepts: Import Quota • Impact of an Import Quota • Tariff and Import Quota Equivalent or Not?...
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This note was uploaded on 10/20/2011 for the course SLOAN 15.010 taught by Professor Berndt during the Fall '04 term at MIT.

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anal_comp_market - Overview: Analysis of Competitive...

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