Consumers, Producers and the Efficiency of Markets by James DeNicco

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About the Lecture

The lecture Consumers, Producers and the Efficiency of Markets by James DeNicco is from the course Principles of Microeconomics (EN). It contains the following chapters:

  • A Closer Look at the Consumer Surplus
  • A Closer Look at the Producer Surplus
  • The Dead Weight Loss of Taxation
  • Elasticity and Dead Weight Loss
  • Taxation and Trade
  • Recap

Included Quiz Questions

  1. above; increases
  2. below; increases
  3. above; decreases
  4. below; decreases
  1. below; decrease
  2. below; increase
  3. above; decrease
  4. above; increase
  1. Less elastic demand results in a smaller deadweight loss and the buyer bears a larger share of the tax burden.
  2. Less elastic demand results in a larger deadweight loss and the buyer bears a larger share of the tax burden.
  3. Less elastic demand results in a larger deadweight loss and the seller bears a larger share of the tax burden.
  4. More elastic demand results in a smaller deadweight loss and the seller bears a larger share of the tax burden.
  1. Deadweight loss increases and tax revenue sometimes increases.
  2. Deadweight loss decreases and tax revenue increases.
  3. Deadweight loss increases and tax revenue increases.
  4. Deadweight loss increases and tax revenue decreases
  1. decreases; producer
  2. decreases; consumer
  3. increases; producer
  4. increases; consumer

Author of lecture Consumers, Producers and the Efficiency of Markets

 James DeNicco

James DeNicco


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