Supply, Demand, and Government Policies

2/1/2001


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Table of Contents

Supply, Demand, and Government Policies

Price Controls...

Price Ceilings & Price Floors

Price Ceilings

A Price Ceiling That Is Not Binding...

A Price Ceiling That Is Binding...

Effects of Price Ceilings

Lines at the Gas Pump

Rent Control

Rent Control in the Short Run...

Rent Control in the Long Run...

Price Floors

A Price Floor That Is Binding...

Effects of a Price Floor

Effects of a Price Floor

The Minimum Wage

The Minimum Wage

The Minimum Wage

Taxes

What are some potential impacts of taxes?

Taxes

Impact of a 50 Tax Levied on Buyers...

Impact of a 50 Tax Levied on Buyers...

What was the impact of tax?

Impact of a 50 Tax on Sellers...

A Payroll Tax

The Incidence of Tax

Elastic Supply, Inelastic Demand...

Inelastic Supply, Elastic Demand...

So, how is the burden of the tax divided?

Summary

Summary

Summary

Author: Mark P. Karscig

Email: stutes@mnstate.edu

Home Page: web.mnstate.edu/stutes