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1- Give an example and discuss when morality should be considered in calculating producer and consumer surplus. 2- Prices are signals. What does that mean?

1- Give an example and discuss when morality should be considered in calculating producer and consumer surplus.

2- Prices are signals. What does that mean? How is this useful for consumers and producers?

3- What are two arguments for and two arguments against raising taxes on high income earners (i.e., households making above $500K per year)?

4- Where does entrepreneurship fit into the supply and demand models? What does entrepreneurship assume about economics?

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