You have 5 kids and work 2 jobs to help support your family. You work a day job from 8:00 am to 4:00 pm Monday through Friday.  You also cut hair at one of the local barber shops on Saturdays and Sundays.  On Saturdays you normally work from 7:00 am to 7:00 pm and make pretty good money because the shop is always full on the weekends.  Your wife is concerned that you are not spending enough time with the children because you work all of the time.  Using production possibilities analysis, show a situation where you decide to increase the amount of time on Saturdays that you hang out with the kids from 2 to 5 hours.

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Tax Incidence Analysis

Tax incidence analysis is a kind of economic analysis. It helps to understand the division of tax burden between stakeholders. Tax incidence also relates to the price elasticity of demand and supply. The producers and consumers may valuate their tax burden with the help of tax incidence analysis. It also helps to calculate the burden of a new tax. It is the effect of a particular tax and analysis of tax occurrence in the economy.