7.1 TAXES ON BUYERS AND SELLERS
{"Image DocumentName": "7.1 TAXES ON BUYERS AND SELLERS", "Image ImageDescription": "Figure 7.3(a) shows tax incidence in a market with perfectly inelastic demand\u2014the market for insulin. A tax of 20\u00a2 a dose raises the price by 20\u00a2, and the buyer pays all the tax. Marginal benefit equals marginal cost, so the outcome is efficient.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}