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The Efficiency of a Competitive Market
*? When an competitive markets generate an inefficient allocation of the resources or market failure?
1) Externalities
2) Lack of Information
*? Government intervention in these markets increase efficiency.
*? Government intervention without market failure creates inefficiency or the deadweight loss.
If coolest icecream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should coolest icecream do to maximize profit
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a) Consider the following flows (in thousand of people) between the various labour market states in a particular month: UE = 240 000; UNLF = 180 000; EU = 190 000; NLFU = 220 000
Economic Reforms and Reduction of Regional Disparities: Another important objective of development is to reduce regional disparities. Government has been helping the backward
If the quantity demanded of Pepsi Cola goes up, and its supply enhances what will occur in the market for Pepsi?
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