Copyright©2004 South-Western 8 Application: The Costs of Taxation.
Applications: The Costs of Taxation & International Trade Chapters 8-9.
© 2007 Thomson South-Western. Application: The Costs of Taxation Welfare economics is the study of how the allocation of resources affects economic well-
Chapter 8 notes. Figure 1 The Effects of a Tax Size of tax Quantity 0 Price Price buyers pay Price sellers receive Demand Supply Price without tax Quantity.
