(Answered) Assignment market in economicsprepare a 750 word paper

Economics

Assignment: Market in economics

Prepare a 750 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:

o Efficiency of markets
o Costs of taxation
o Benefits of international trade

Cite a minimum of one peer-reviewed source.

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