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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

If the transit system were regulated to provide the most allocatively efficient quantity of output, what output would it supply and what price would it charge? What subsidy would be IIECESSEIIY to insure this efficient provision of transit services?

To determine

If transit system were regulated and provide efficient quantity of output , what output would it supply and what price would it charge? what subsidy would be necessary to insure this efficient provision of transit services.

Explanation

Government usually regulate all the utility services like road, rail, electricity, transport. If transit system is regulated and provide the most allocatively efficient quantity of output, then it means inputs wer...

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