rade-off between efficiency and equity is of great importance to economists. Why are economists so concerned about the impact of government policies and actions on efficiency and equity? Base your answer on economic theory

rade-off between efficiency and equity is of great importance to economists. Why are economists so concerned about the impact of government policies and actions on efficiency and equity? Base your answer on economic theory

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter15: Income Inequality And Poverty

Section: Chapter Questions

Problem 5CQ

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The trade-off between efficiency and equity is of great importance to economists. Why are economists so concerned about the impact of government policies and actions on efficiency and equity? Base your answer on economic theory.

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