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# Difficult Topics in Microeconomics: Tax analysis

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```Difficult Topics in
Microeconomics: Tax analysis
Luis Fernandez
And
Teresa Fischer
Teaching Objectives of Tax Analysis
пЃ¬
пЃ¬
пЃ¬
пЃ¬
Application of supply and demand analysis.
Refute the вЂњfly-paper theoryвЂќ of tax incidence.
Determine the welfare effects of a wellknown type of public policy - taxation.
Relate tax incidence to demand and supply
elasticities.
Analysis of a \$1/unit excise tax
Typical Supply and Demand Diagram
\$6
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
A \$1/unit excise tax is enacted
\$6
\$5
\$4
Supply
Demand
\$3
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
What happens to the demand curve?
\$6
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
9
Quantity Supplied and Demanded
10
11
Nothing happens to the demand curve!
\$6
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
9
Quantity Supplied and Demanded
10
11
What happens to the supply curve?
\$6
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
9
Quantity Supplied and Demanded
10
11
The supply curve shifts up by \$1/unit!
Result: price paid by buyers goes up
and quantity sold goes down
\$6
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
9
Quantity Supplied and Demanded
10
11
Result: price paid by buyers goes up
by LESS than the tax!
\$6
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
Welfare Analysis
\$6
Consumer surplus
\$5
\$4
Supply
\$3
Demand
\$2
\$1
Producer surplus
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
Welfare Effect of tax:
consumer surplus falls
\$6
New consumer surplus
\$5
\$4
Supply
\$3
Demand
\$2
Old consumer surplus
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
Welfare Effect of tax:
producer surplus falls
\$6
New producer surplus
\$5
\$4
Supply
\$3
Demand
\$2
Old producer surplus
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
Welfare effect of tax:
tax revenue goes up
\$6
\$5
\$4
Supply
\$3
Demand
\$2
Tax revenue
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
Welfare effect of tax:
fall in surplus is greater than tax
revenue
\$6
Consumer Surplus
\$5
\$4
Supply
Tax revenue
\$3
Demand
\$2
\$1
Producer Surplus
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
Welfare effect of tax:
total welfare goes down
\$6
Consumer and Producer
Surplus and Tax Revenue
\$5
\$4
Supply
\$3
Demand
\$2
\$1
\$0
0
1
2
3
4
5
6
7
8
Quantity Supplied and Demanded
9
10
11
```
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