Tax Revenue and Deadweight Loss

Why do taxes exist? What are the effects of taxes? We discuss how taxes affect consumer surplus and producer surplus and discuss the concept of deadweight loss at length. We’ll also look at a real-world example of deadweight loss: taxing luxury yachts in the 1990s. Microeconomics Course: http://bit.ly/20VablY Next video: http://bit.ly/1TGgDhv Help us caption & translate this video! http://amara.org/v/GCs4/