Monday, November 24, 2014

Market Failure Cheat Sheet

Externality Cheat Sheet

The APis fairly straight forward asking about externalities/ market failure but they do tweak it a bit by asking how dead weight loss DWL is effected by certain solutions (Tax, subsidy, lump-sum tax, etc.) Be prepared.
meet-up tonight at 6pm in Stanley @ Pacific Coffee
Welcome if you are in HK.

Externality Check list,
When crafting a diagram, make sure that all necessary parts are added for the readers.
I made this checklist for the IB exams but it works equally well for the AP.

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