Why does loss in total economic surplus directly experienced
Why does the loss in total economic surplus directly experienced by participants in the market for a good that is taxed overstated the overall loss in economic surplus that results from the tax? Why do price ceilings reduce economic surplus?
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Why does loss in total economic surplus directly experienced by participants in market for good that is taxed overstated overall loss in economic surplus which results from tax?
A difference between actual costs and planned costs.
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Both export and import some of same products. If specialization is essence of comparative advantage, why would we import and export same product categories?
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