Re: ZOMG MICRO ECONOMICS WTFFFF
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.
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