- Price Controls, Taxes and Elasticity in Pricing
This is part of a team assignment, I need someone to do the part above.
These are the directions for the whole assignment.
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.
This is how the essay is broken up.
Why the Equilibrium of Supply and Demand is Desirable
Efficiency, Taxation and International Trade
Demand curve, Supply Curve and Equilibrium
Price Controls, Taxes and Elasticity in Pricing, I need this part done with at least 300 words and one peer-reviewed source with the in-text citation.