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(微觀經(jīng)濟(jì)學(xué)英文課件）Chap8Application：TheCostsofTaxation(微觀經(jīng)濟(jì)學(xué)英文課件）Chap8Application：TheCostsofTaxationHowdotaxesaffecttheeconomicwell-beingofmarketparticipants?TheCostsofTaxationHowdotaUnit1howaTaxAffectsWelfareUnit2deadweightlossandElasticitiesUnit3deadweightLossandTaxRevenueUnit1howaTaxAffectsWelfaUnit1HowaTaxAffectsWelfareUnit1HowaTaxAffectsWelfaPrice0QuantityQuantitywithouttaxSupplyDemandPricewithouttaxPricebuyerspayQuantitywithtaxSizeoftaxPricesellersreceivePrice0QuantityQuantitywithoutAtaxplacesawedgebetweenthepricebuyerspayandthepricesellersreceive.Becauseofthistaxwedge,thequantitysoldfallsbelowthelevelThesizeofthemarketforthatgoodshrinks.AtaxplacesawedgebetweentPrice0QuantityQuantitywithouttaxSupplyDemandPricesellersreceiveQuantitywithtaxSizeoftax(T)Quantitysold(Q)TaxRevenue(TxQ)PricebuyerspayPrice0QuantityQuantitywithoutQuantity0PriceDemandSupplyQ1ABCFDEQ2Taxreducesconsumersurplusby(B+C)andproducersurplusby(D+E)Taxrevenue=(B+D)DeadweightLoss=(C+E)Pricebuyerspay=PB

P1Pricewithouttax=

PSPricesellersreceive=Quantity0PriceDemandSupplyQ1ABChangesinWelfare

fromaTaxWithoutTaxWithTaxChangeConsumerSurplusA+B+CA-(B+C)ProducerSurplusD+E+FF-(D+E)TaxRevenuenoneB+D+(B+D)TotalSurplusA+B+C+D+E+FA+B+D+F-(C+E)TheareaC+Eshowsthefallintotalsurplusandisthe

deadweightloss

ofthetax.ChangesinWelfare

fromaTaxTaxeshaveadeadweightlossbecausetheycausebuyerstoconsumelessandsellerstoproduceless.TaxeshaveadeadweightlossbUnit2DeadweightlossandElasticitiesWhatthedeterminantsofdeadweightloss?dependsonthepriceelasticitiesofsupplyanddemand.Unit2DeadweightlossandElaQuantityPriceDemandSupply0Whensupplyisrelativelyinelastic,thedeadweightlossofataxissmall.(a)InelasticSupplySizeoftaxQuantityPriceDemandSupply0WhenQuantityPriceDemandSupply0SizeoftaxWhensupplyisrelativelyelastic,thedeadweightlossofataxislarge.(b)ElasticSupplyQuantityPriceDemandSupply0SizeQuantityPriceDemandSupply0Whendemandisrelativelyinelastic,thedeadweightlossofataxissmall.(c)InelasticDemandSizeoftaxQuantityPriceDemandSupply0WhenQuantityPriceDemandSupply0SizeoftaxWhendemandisrelativelyelastic,thedeadweightlossofataxislarge.(d)ElasticDemandQuantityPriceDemandSupply0SizeConclusion:Thegreatertheelasticities:thelargerwillbethedeclineinquantitythegreaterthedeadweightlossofatax,thegreatertaxdistortion.Conclusion:ThegreatertheelaUnit3DeadweightLossandTaxRevenueWhenthetaxsizechanges,whathappenedtothedeadweightlossandtaxrevenue?Unit3DeadweightLossandTaxPBQuantityQ20PriceQ1DemandSupplyTaxrevenuePSDeadweightloss(a)SmallTaxPBQuantityQ20PriceQ1DemandSuppDemandSupplyTaxrevenuePBQuantityQ20PriceQ1PSDeadweightloss(b)MediumTaxDemandSupplyTaxPBQuantityQ20PrTaxrevenuePBQuantityQ20PriceQ1DemandSupplyPSDeadweightloss(c)LargeTaxTaxrevenuePBQuantityQ20PriceQAsthesizeofataxincreases,itsdeadweightlossquicklygetslarger.Why?

Conclusion1:taxsizeanddeadweightloss

AsthesizeofataxincreasesDeadweightLoss0TaxSizeDeadweight0TaxSizeConclusion2:taxsizeandtaxrevenueForthesmalltax,taxrevenueissmall.Asthesizeofthetaxrises,taxrevenuegrows.Butasthesizeofthetaxcontinuestorise,taxrevenuefallsbecausethehighertaxreducesthemarketquantity.Conclusion2:taxsizeandtaxRevenue(theLaffercurve)TaxRevenue0TaxSize(rate)Revenue(theLaffercurve)TaxThe

Laffercurve

depictstherelationshipbetweentaxratesandtaxrevenue.Supply-sideeconomics

referstotheviewsofReaganandLafferwhoproposedthatataxcutwouldinducemorepeopletoworkandtherebyhavethepotentialtoincreasetaxrevenues.TheLaffercurvedepictstherExerciseP1731(problemsandapplications)P1748ExerciseWithoutatax:totalspendingbyconsumers=totalrevenueforproducers=P1xQ1=B+C+D+E+F,governmentrevenue=0impositionofatax:totalspendingbyconsumers=PBxQ2=A+B+C+D,totalrevenueforproducers=PSxQ2,=C+D,governmenttaxrevenue=Q2xtax=A+B.Withoutatax:(微觀經(jīng)濟(jì)學(xué)英文課件）Chap8Application：TheCostsofTaxation(微觀經(jīng)濟(jì)學(xué)英文課件）Chap8Application：TheCostsofTaxationHowdotaxesaffecttheeconomicwell-beingofmarketparticipants?TheCostsofTaxationHowdotaUnit1howaTaxAffectsWelfareUnit2deadweightlossandElasticitiesUnit3deadweightLossandTaxRevenueUnit1howaTaxAffectsWelfaUnit1HowaTaxAffectsWelfareUnit1HowaTaxAffectsWelfaPrice0QuantityQuantitywithouttaxSupplyDemandPricewithouttaxPricebuyerspayQuantitywithtaxSizeoftaxPricesellersreceivePrice0QuantityQuantitywithoutAtaxplacesawedgebetweenthepricebuyerspayandthepricesellersreceive.Becauseofthistaxwedge,thequantitysoldfallsbelowthelevelThesizeofthemarketforthatgoodshrinks.AtaxplacesawedgebetweentPrice0QuantityQuantitywithouttaxSupplyDemandPricesellersreceiveQuantitywithtaxSizeoftax(T)Quantitysold(Q)TaxRevenue(TxQ)PricebuyerspayPrice0QuantityQuantitywithoutQuantity0PriceDemandSupplyQ1ABCFDEQ2Taxreducesconsumersurplusby(B+C)andproducersurplusby(D+E)Taxrevenue=(B+D)DeadweightLoss=(C+E)Pricebuyerspay=PB

P1Pricewithouttax=

PSPricesellersreceive=Quantity0PriceDemandSupplyQ1ABChangesinWelfare

fromaTaxWithoutTaxWithTaxChangeConsumerSurplusA+B+CA-(B+C)ProducerSurplusD+E+FF-(D+E)TaxRevenuenoneB+D+(B+D)TotalSurplusA+B+C+D+E+FA+B+D+F-(C+E)TheareaC+Eshowsthefallintotalsurplusandisthe

deadweightloss

ofthetax.ChangesinWelfare

fromaTaxTaxeshaveadeadweightlossbecausetheycausebuyerstoconsumelessandsellerstoproduceless.TaxeshaveadeadweightlossbUnit2DeadweightlossandElasticitiesWhatthedeterminantsofdeadweightloss?dependsonthepriceelasticitiesofsupplyanddemand.Unit2DeadweightlossandElaQuantityPriceDemandSupply0Whensupplyisrelativelyinelastic,thedeadweightlossofataxissmall.(a)InelasticSupplySizeoftaxQuantityPriceDemandSupply0WhenQuantityPriceDemandSupply0SizeoftaxWhensupplyisrelativelyelastic,thedeadweightlossofataxislarge.(b)ElasticSupplyQuantityPriceDemandSupply0SizeQuantityPriceDemandSupply0Whendemandisrelativelyinelastic,thedeadweightlossofataxissmall.(c)InelasticDemandSizeoftaxQuantityPriceDemandSupply0WhenQuantityPriceDemandSupply0SizeoftaxWhendemandisrelativelyelastic,thedeadweightlossofataxislarge.(d)ElasticDemandQuantityPriceDemandSupply0SizeConclusion:Thegreatertheelasticities:thelargerwillbethedeclineinquantitythegreaterthedeadweightlossofatax,thegreatertaxdistortion.Conclusion:ThegreatertheelaUnit3DeadweightLossandTaxRevenueWhenthetaxsizechanges,whathappenedtothedeadweightlossandtaxrevenue?Unit3DeadweightLossandTaxPBQuantityQ20PriceQ1DemandSupplyTaxrevenuePSDeadweightloss(a)SmallTaxPBQuantityQ20PriceQ1DemandSuppDemandSupplyTaxrevenuePBQuantityQ20PriceQ1PSDeadweightloss(b)MediumTaxDemandSupplyTaxPBQuantityQ20PrTaxrevenuePBQuantityQ20PriceQ1DemandSupplyPSDeadweightloss(c)LargeTaxTaxrevenuePBQuantityQ20PriceQAsthesizeofataxincreases,itsdeadweightlossquicklygetslarger.Why?

Conclusion1:taxsizeanddeadweightloss

AsthesizeofataxincreasesDeadweightLoss0TaxSizeDeadweight0TaxSizeConclusion2:taxsizeandtaxrevenueForthesmalltax,taxrevenueissmall.Asthesizeofthetaxrises,taxre

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