Project Summary: Assignment Steps Scenario: Imagine you have been assigned the responsibility of preparing a paper for the governor's next economic conference. Prepare a 1,050-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: -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. -Format consistent with APA guidelines.