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ECO 365 THE SUPPLY AND DEMAND MODEL / TUTORIALOUTLET DOT COM

Purpose of Assignment<br>In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency.

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ECO 365 THE SUPPLY AND DEMAND MODEL / TUTORIALOUTLET DOT COM

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  1. ECO 365 THE SUPPLY AND DEMAND MODEL / TUTORIALOUTLET DOT COM

  2. ECO 365 THE SUPPLY AND DEMAND MODEL / TUTORIALOUTLET DOT COM ECO 365the supply and demand model FOR MORE CLASSES VISIT www.tutorialoutlet.com Purpose of Assignment In Week 2, 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.

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