Microeconomics: Theory and Applications with Calculus, 4e

S

• Safety, worker safety example, 637, 658–659

• Sales prices, Heinz ketchup example, 409, 442–443

• Sales taxes

  • policies creating wedge between supply and demand curves, 303

  • tariffs compared with, 315

  • welfare effects of, 303–305

• Sales taxes, equilibrium effects

  • ad valorem taxes and specific taxes having similar effects, 46–47

  • effect same regardless of who is taxed, 43

  • overview of, 41

  • of specific taxes, 41–42

  • who pays, 43–44

• Salience, in behavioral economics, 97–98

• Savings

  • interest rates and, 553

  • for retirement, 546–547

• SC (Scope economies). See Economies of scope

• Scale, returns to. See Returns to scale

• Scarce resources. See also Resources, exhaustible, 1–3

• Scarcity

  • maximizing subject to constraints, 5–6

  • prices of exhaustible resources and, 559