This is a graded discussion: 20 points possible due Sep 11 Discussion Assignment 1 (Lecture 1-3) At 12 12 1. Think about the efficiency and equity implication of the following case. How would you go about balancing the concerns of equity and efficiency in this area. Case: when people lose their jobs, the government provides unemployment benefit until they find the new one? 2. There are many skills that people value, such as being able to dance the tango, play a guitar, or speak a foreign language. Pick one skill you are good at and ponder your willingness to teach a one-hour lesson, in LA downtown, at 9:00PM this coming Friday. How much would you need to be paid to convince you to be a supplier in this market? What factors determine your willingness to accept? Try to use the theoretical and economic perspective to explain your statement