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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

For an economist, is the socially optimal output always preferred to the market output?

To determine

Explain “sociality optimal output always preferred to the market output”.

Explanation

The socially optimal output is always preferred to the market output when there is no cost for shifts the output from market output to the socially optimal output. Economist believes that, if benefit of shifting the output from market output to ...

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