external cost
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a cost imposed without compensation on someone other than the person
that caused it
what is it called when a price is set by law or regulation above the equilibrium value
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a price floor
who loses surplus when consumers in a market are forced to internalize a negative
externality
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both producers and consumers
pigovian tax
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a tax meant to counterbalance a negative externality
tax wedge
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the difference between the price paid by the buyers and the price
received by sellers in the presence of a tax
what is the value of an existing market?
Give this one a try later!
a cost imposed without compensation on someone other than the person
that caused it
what is it called when a price is set by law or regulation above the equilibrium value
, Give this one a try later!
a price floor
who loses surplus when consumers in a market are forced to internalize a negative
externality
Give this one a try later!
both producers and consumers
pigovian tax
Give this one a try later!
a tax meant to counterbalance a negative externality
tax wedge
Give this one a try later!
the difference between the price paid by the buyers and the price
received by sellers in the presence of a tax
what is the value of an existing market?
