Explain the concepts of consumer and producer surplus


Assignment:

You have been assigned to a team that has the responsibility of preparing a paper consisting of 350 words for the governor's next economic conference.

• Explain the following concepts using the concept of consumer and producer surplus:

• Efficiency of markets

• Costs of taxation

• Benefits of international trade

APA format and include references as well

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Microeconomics: Explain the concepts of consumer and producer surplus
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