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1 discuss what deadweight loss is and how it removes total surplus from the market place. How does a governmentand society balance the need for

1 discuss what deadweight loss is and how it removes total surplus from the market place. How does a governmentand society balance the need for services, and therefore the requirement oftaxes, versus the desire to keep the total surplus as a large as possible in an economy?

explain the premise of the theory of the Laffer Curve, and how a lower tax rate at times can actually create a larger amount of total tax revenueto the government.

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