Taxation and dead weight loss발음듣기
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Taxation and dead weight loss
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출처 : 칸아카데미
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This is the supply and the demand curve for the price and the quantity of hamburgers sold per day.발음듣기
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If we have a completely unfettered market, no intervention, no taxes, nothing like that, then we see we have an equilibrium price and an equilibrium quantity.발음듣기
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Maybe if I draw that line a little bit differently, the equilibrium quantity looks like it's about $3 - Sorry, it's about 3.5 million hamburgers per day.발음듣기
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Just to review what we've talked about before, up here, below the demand curve and above the price.발음듣기
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This is how much value, this is how much benefit the consumers are getting above and beyond what they have to pay.발음듣기
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That is the consumer surplus. Then, between this price equals $3.75 line and the supply curve, you have your producer surplus.발음듣기
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This is how much more the producers are getting for each hamburger, relative to what their opportunity cost of producing that incremental hamburger was.발음듣기
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It looks like McDonalds, at least based on the information I got, sells a little bit over 4 million hamburgers per day in the United States.발음듣기
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I didn't clarify whether this is just hamburgers from one vendor or multiple vendors, but it's not a crazy number of hamburgers to sell in a fairly large country.발음듣기
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For the sake of this, it's not necessarily McDonalds hamburgers, we're just talking about this is the total market for hamburgers in a country.발음듣기
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We're making the simplifying assumption that all hamburgers are created equal, which we know is not true.발음듣기
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Now, the government in this hypothetical civilization says, "Wow, a lot of hamburgers are being sold.발음듣기
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We need more revenue for the government to do other things," or maybe to pay off their debt or whatever they need to do.발음듣기
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Most sales taxes tend to be a percentage of the price, but instead they're just going to do a tax of $1 per hamburger.발음듣기
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Let's think about what this does to the surplus, to the price at which transactions will go on and what people will have to pay versus what they will have to get.발음듣기
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At any given point, if we look at the supply curve right over here, in order to get someone to produce that very first hamburger,발음듣기
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They could use those exact same resources, that land, the labor, whatever else, to produce something else that has $2 of value,발음듣기
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The more hamburgers you want the suppliers to produce you have to pay them more and more for those incremental hamburgers,발음듣기
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because they're going to start using resources that might have better used for other things and that are not as efficiently used for hamburgers.발음듣기
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This is what the supply curve that I originally drew in magenta is what the suppliers need to see in order to produce a certain quantity.발음듣기
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If you want them to produce 3 million hamburgers, you have to be willing to pay $3 per hamburger,발음듣기
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This is what the suppliers are going to get or the producers are going to get, but when you put a tax, the consumers are going to have to pay a dollar more.발음듣기
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Over here, in order to produce this much, the suppliers are going to have to get $3 per hamburger,발음듣기
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but then the consumers are going to have to pay a dollar more, so they're going to have to pay $1 more.발음듣기
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In order to get the suppliers to produce 2 million hamburgers, you're going to have to pay them this much,발음듣기
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you're going to have to pay them about $2.50, but then the consumers are going to have to pay a dollar more than that.발음듣기
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but then if the suppliers or producers are getting $2, the consumers are going to have to pay a dollar more for the tax.발음듣기
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One way to think about it is the supply curve, from the consumer's point of view, is going to be shifted a dollar more than the supply curve from the producer's point of view.발음듣기
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It's going to be shifted up $1, so it's going to look something ... I can do a better job than that.발음듣기
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At every point, because this is a fixed dollar, it's not a percentage, at every point, this distance right over here is going to be $1.발음듣기
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What happens there? From the consumer's point of view, what we have is now a new price that they're willing to consume at, because now this reality is not possible anymore.발음듣기
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So we get to a new equilibrium price and equilibrium quantity now, because now, since this is from the consumer's point of view, the point at which they intersect is right over there, which is about a little bit over $4 per burger and it's a slightly lower quantity.발음듣기
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Below this green line was the producer surplus, above the green line and below this curve right here was the consumer surplus.발음듣기
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That is dead weight loss. The taxation got us from an efficient situation, where we had that maximum consumer and producer surplus.발음듣기
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This length right over here is going to be the area of this rectangle that I'm doing in orange.발음듣기
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because maybe the government officials thought they were going to get more, because they look at the projections and they say, "Wait.발음듣기
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What they didn't realize is that they're making the burgers more expensive, so there's going to be a lower quantity demanded.발음듣기
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The actual clearing quantity or the actual equilibrium quantity now is only going to be 3 million.발음듣기
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The way we see it, it removed this surplus here, from both the consumer surplus and the producer surplus and no one's getting that, not even the government's getting that.발음듣기
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No one's getting that white part right over there and this orange part right over here is eating into the consumer surplus, so now they're paying more than ...발음듣기
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Another way to think about it is the difference between the benefit they're getting and what they're paying at any given point, for any given incremental consumer, is now less and the producer surplus is less.발음듣기
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The excess of what they're getting for each hamburger versus their opportunity cost is now less.발음듣기
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The producer surplus has now been shrunken back to this area right over here and these are curves here, so we can't just do simple geometry to figure out the area of triangles.발음듣기
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Then the consumer surplus has been pushed back to this area above the orange right over here.발음듣기
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You see, governments, for the most part, have to do some type of taxation in order to get revenue and it could be income tax or it could be a sales tax, like this right over here,발음듣기
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but when they do it, it gets us into a non-efficient state and it does cause some, depending on how these curves are shaped, it does cause some dead weight loss.발음듣기
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