Ignoring rationing problems and black markets, under rent control (or any price ceiling that produces a shortage) the price paid by consumers equals the marginal cost of producing the good. Does this mean the output level is efficient? Explai

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Q: how can globalization help the poor?

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.