Taxes 0:00 Taxes on buyers 3:24 Taxes on seller 13:28 Taxes on buyers are equivalent to taxes on sellers 21:10 Third way to analyze the impact of a tax 27:07 Elasticity and the incidence of the tax 30:23 The effect of a tax on consumer surplus and producer surplus 36:44 - Deadweight loss of the tax 40:39 - Government revenue of the tax 41:04 Taxes discourage economic activity...what do we want to encourage/discourage? 44:24 Subsidies 47:12 Luxury taxes 49:42 Comparison of price controls and taxes 54:59