Price Floor and Price Ceiling (Upside down house)
Consumer Surplus, Producer Surplus, and Deadweight Loss (1/2 * B * H)
Shifts of Demand and Supply (TIMER and RATNEST)
Excise Taxes
Tax Per Unit: Vertical Distance between Supply curves
Tax Revenue = Tax * Q
Quotas and Tariffs
Quota: Difference between Qd and Qs
There is no DWL with a quota
A tariff will raise the price
Elasticity Calculations (remember that change in quantity always goes on the top)