International Baccalaureate Economics (Important equations) Flashcards on Chapter 4: Government Intervention Important Equations , created by Jasmine Wells on 30/11/2015.
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Created by Jasmine Wells
almost 9 years ago
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Created by Jasmine Wells
almost 9 years ago
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How to find new supply function when there is a tax?
Pre: Qs= c+dP
How to find consumer surplus
How to find producer surplus
How to calculate welfare loss
Identifying tax burden of consumers and producers
How to find new supply function when there is a subsidy?
Pre: Qs= c +dP
Calculating shortage: Excess demand
Calculating surplus: Excess supply
