Markets and the Economics of the Public Sector Explain why equilibrium of supply and demand is desirable. Explain the following concepts using the…
Markets and the Economics of the Public Sector
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.
I am trying to find a minimum of three peer-reviewed sources, not including your textbook.
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