I.  Bellwork

A.  Briefly summarize the article below using CER (claim, evidence and reasoning) 3pts

• https://www.yahoo.com/finance/news/ford-prepares-mass-layoffs-losing-002618564.html

B.  Explain the tariff’s impact on consumer surplus and producer surplus. 2pts

C.  Explain how dead weight loss is involved. 1 pt

II. Objectives

• Graph and Calculate the change in consumer surplus, producer surplus, resulting from excise taxes
• Graph and calculate the deadweight loss and revenue from taxes resulting from an excise tax
• Determine the impact of an excise tax on consumer and producer surplus as well as discuss the incidence of a tax.

III.   Classwork:  

• Worksheet 2.9 on iLearn 

IV. Due Yesterday

Page 528-531  MC 1-17 & FRQ #1

V.  Homework

• Test corrections – see sheet on the blog