This is a group paper I am only responsible for the highlighted portion and
need only about 400-500 words.
You have been assigned to a
team that has the responsibility of preparing a paper consisting of 1,750 words
for the governor’s next economic conference. Your paper should address the
following:
·
Explain why equilibrium of
supply and demand is desirable.
·
Explain the following concepts
using the concept of consumer and producer surplus:
o
Efficiency of markets
o Costs of taxation
o Benefits of international
trade
·
Discuss
how externalities may prevent market equilibrium and the various governments
policies used to remedy the inefficiencies in markets caused by externalities.
·
Analyze
the difference between the efficiency of a tax systemand the equity of a tax system as it refers to the
costs imposed on taxpayers using the benefits principles.
Citea minimum of 3 peer-reviewed sources, not including
your textbook.
Formatconsistent with APA guidelines.
