Learn the difference between consumer surplus and economic surplus, how the concepts are related, and the important ...

Learn how microeconomic pricing models determine market prices through supply and demand. Discover how equilibrium is ...

An excise tax is a tax levied by the government on a specific good or service; it is paid by the manufacturer or the supplier, rather than the consumer. However, an excise tax, which any level of ...

Equilibrium price is a common economics term that refers to the exact price at which market supply equals market demand. Selling goods and services at the equilibrium price point leads to optimized ...