Efficiency in the use of resources

Reference no: EM13970929

Suppose you have more books than you want but would like to have more sporting goods. Explain how your well-being would be affected if a law existed preventing the trading of books for sporting goods. How would such a law affect efficiency in the use of resources? Show how a law banning the sale of books will cause a loss in efficiency. How can these losses be measured?

Reference no: EM13970929

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