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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 25

7.3 Taxes, subsidies and welfare

One idea · follow the reasoning · then practise1 / 9

01

How do tax incidence and DWL arise from a wedge between two prices?

Market stalls send goods toward a central stall beside a harbor with a checkpoint, coins, and cargo boats
VISUAL NOTE · Competitive markets Policy incidence depends on elasticity

The seller remitting a tax does not imply the seller bears its entire burden.