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Business - Microeconomics

    Chapter 13

    Analysis of Competitive Markets

    13.1 : Price Ceiling01:24

    13.1 : Price Ceiling

    A price ceiling is a regulation that sets the maximum price that can be charged for a product. This is done by the government to keep essential goods ...

    86 views
    13.2 : Price Ceiling and Elastic Demand01:14

    13.2 : Price Ceiling and Elastic Demand

    When demand and supply are elastic, the quantity demanded and supplied respond significantly to price changes. In this context, a price ceiling set below ...

    46 views
    13.3 : Price Ceiling and Inelastic Demand01:21

    13.3 : Price Ceiling and Inelastic Demand

    In a market with inelastic demand and supply, the quantity demanded and supplied exhibits minimal responsiveness to price fluctuations. So, when prices ...

    34 views
    13.4 : Price Floor01:17

    13.4 : Price Floor

    A price floor is a regulation that establishes the minimum price that can be charged for a product. Governments often set price floors to ensure producers ...

    26 views
    13.5 : Taxes01:30

    13.5 : Taxes

    Taxes are mandatory financial charges that governments impose on individuals or businesses. An excise tax, in particular, is levied on the sale of ...

    44 views
    13.6 : Tax Size and Deadweight Loss01:22

    13.6 : Tax Size and Deadweight Loss

    Consider a small shop selling handmade pottery. The government imposes a small tax percentage on it, increasing its price. Consumers still purchase the ...

    48 views
    13.7 : Incidence of Tax I01:18

    13.7 : Incidence of Tax I

    Certain goods have an inelastic demand, meaning that with the change in price, the quantity demanded changes very little. Assume the demand for rice is ...

    31 views
    13.8 : Incidence of Tax II01:22

    13.8 : Incidence of Tax II

    Certain goods have an elastic demand, meaning the quantity demanded changes significantly in response to price changes. Luxury cars are an example of such ...

    27 views
    13.9 : Quotas01:23

    13.9 : Quotas

    A quota is a regulation that sets a certain quantity of a good or service to be provided. It can either mandate a minimum production level for firms or ...

    105 views
    13.10 : Tariffs01:20

    13.10 : Tariffs

    A tariff is a tax that a government imposes on imported goods. It increases the cost of imported goods, making them less competitive than domestically ...

    116 views
    13.11 : Subsidy01:19

    13.11 : Subsidy

    A subsidy is a financial aid to an economic sector by the government to promote greater production of a good or service. Subsidies reduce the cost of ...

    87 views
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