Purpose of Assignment Students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics–the study of how the allocation of resources affects economic well-being–and will discover that under most circumstances, the equilibrium price and quantity is also the one that maximizes welfare. Students will review different sources of externalities and a variety of potential cures and will see that while markets are usually a good way to organize economic activity, governments can sometimes improve market outcomes. Students will see how the U.S. government raises and spends money and the difficulty of making a tax system both efficient and equitable. Assignment Steps Scenario: You have been assigned to a team that has the responsibility of preparing a paper for the governor’s next economic conference. Prepare a 1,050-word paper addressing 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 marketsCosts of taxationBenefits of international tradeDiscuss 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. Format consistent with APA guidelines.
A professional Academic Services Provider
Platinum Essays, We are Built on the Values of Reliability, Proffessionalism, and IntegrityWe are a Custom Academic Writing service provider with over a decade of extensive experience in the academic and business writing service industry. We are consistently engaged in advising students on the methodologies of coping with essay writing, term papers, thesis, dissertation and many other approaches towards handling assignments Our main goal is to help present a conceptual model of papers to our clients. Whether it is as a result of academic difficulties, Burnout during studies, or simply the need to have that extra time for your personal growth, what we are is an institution that only focuses on your Academic Growth. By presenting a paper worthy of turning in, we provide you with an excellent model that matches or supersedes your requirements. Our strong belief in academic integrity is held to the highest standards. As such, all papers are developed from scratch and run through software to gurantee authenticity (100 % PLAGIARISM FREE). The Papers are pre-marked by our tutors to ensure it matches the required marking schemes. On deliverly, the paper guarantees top grades and an improved GPA.
Our Core Values.
Process of Placing an Order