Tax Theory and Economic Analysis: Firm Impacts and Decision-Making

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The impact of taxes on the decision making of firms is commonly understood using the economic maxim that profit-maximizing firms seek low cost methods of doing business for a given level of quality and output. Given that taxes and charges raise the cost of certain areas of business, economic theory predicts that firms will be impelled to find low cost methods of compliance. Understanding the incentive structures created by environmental taxes and charges is the chief aim of this field.