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The basics of demand and supply, and what equilibrium is.
Determinants of supply and demand
Determinants that cause the demand and supply curve to shift.
Price ceilings and price floors.
Coefficient of elasticity and the total revenue test.
Consumer surplus, producer surplus, and market efficiency
Consumer and producer surplus and sample questions.
Tax incidence and deadweight loss
Per unit tax, dead-weight loss, consumer and producer surplus, tax revenue, producer net price and consumer price.
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