You have been assigned to a team that has the responsibility of preparing a paper consisting of 350-450 words for the governors next economic conference. Your paper should address the following: Introduction included! Explain why equilibrium of supply and demand is desirable.
Cite a minimum of 1 peer-reviewed sources, not including your textbook. Format consistent with APA guidelines.
These are the other bullets just to go by for the introduction 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 system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles. .