A per unit excise tax imposes a wedge between the price that the sellers see and the price that the buyers see. In the graph the existence of this wedge is indicated by shifting up the supply curve to "Supply with Tax." The "Supply" line shows how sellers react to the prices they ...
It’s also important to look at the level of “double taxation” on income that is saved and invested. It’s also important to look at VATs, which increase the wedge between pre-tax income and post-tax consumption. Needless to say, other economic policies also matter. A nation might have...
The export tax equilibrium is depicted graphically on the adjoining graph. The Mexican price of wheat rises from PFTto which reduces its import demand from QFTto QT. The US price of wheat falls from PFTto which reduces its export supply, also from QFTto QT. The difference in the prices be...
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