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Unformatted text preview: i. Consumer surplus (CS) plus ii. Producer surplus (PS) plus iii. Government revenue iv. Deadweight loss v. Examples 3. Examples a. Who bears the burden of a tax? b. How is economic surplus affected? 4. Extensions: related topics a. Subsidies b. Price controls/quantity restrictions c. Third-party-payer markets III. NEXT TIME A. Finish Chapter 8: Taxation and Government Intervention B. Begin Chapter 9: International Trade Policy...
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- Spring '08