What is the origin of both consumer surplus and producer surplus, business and finance homework help

Answer questions with 50 words or more

  • What is the origin of both consumer surplus and producer surplus?
  • How do positive and negative externalities lead to under- and over-allocations of resources?
  • Why does “government failure” happen?
  • How can the government’s power to coerce (influence economic behavior) be economically beneficial?
 
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