This Tutorial contains 2 Papers ECO 365 Week 2 Markets and the Economics of the Public Sector 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: § Efficiency of markets § Costs of taxation § 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 system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles. Cite a minimum of 3 peer-reviewed sources, not including your textbook. Format consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
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