ZOMG MICRO ECONOMICS WTFFFF

[dkgojackets]

would social surplus be the same thing as positive externalities? Deadweight loss is what society loses because of less transactions occuring after a tax is imposed.

BTW Im in microecon this semester too and we have a midterm thursday

supply and demand wtf easy?

elasticity is %change in quantity over %change in price. I believe inelastic is over one, elastic below one, unit elastic = 1.