Microeconomics – Elasticity & Its Applications

Elasticity measures how much buyers and sellers respond to changes in market conditions. Price elasticity of demand measures how much the quantity demanded of a good responds to a change in the price of that good. Price elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price. Determinants … Continue reading Microeconomics – Elasticity & Its Applications

The Sugar Tax

The sugar tax is becoming increasingly advocated for in government and promoted by most health professionals and doctors to increase government taxes on such things as sugar and cigarettes. Just because they are correlated to bad health problems. The reality that taxing such things to prohibit intake is otherwise wrong. What about substitute goods and … Continue reading The Sugar Tax