Assess students' ability to apply supply and demand analysis together with price elasticity to quantify the effects of per‑unit and ad valorem taxes, subsidies, and price controls on equilibrium price and quantity; compute resulting changes in consumer surplus, producer surplus, government revenue, tax incidence, and deadweight loss; and interpret how differing supply and demand elasticities alter incidence and inefficiency. Include problems requiring algebraic and graphical solutions (linear schedules and elasticity formulas) with step‑by‑step justification and economic interpretation.