The role of Government coerce in maximizing economic efficiency.

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Answer 1

Question

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

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Answer 2

Question

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

Answer 6

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

Answer 7

Chapter 5, Problem 1DQ

To determine

The role of Government coerce in maximizing economic efficiency.

Answer 8

Expert Solution & Answer

Explanation of Solution

When the government is allowed to coerce in the economy during some situations, it will help the economy to maximize the economic efficiency. The market system has the inherent problem for market failure. The market failure can be handled by the introduction of the public goods which will enforce the positive externalities.

The government can easily identify the unethical practices in the economy such as fraud and extortion etc. when the government is invested with the right to coerce; it can correct the unethical practices. It will help to reduce the risks associated with markets. Thus, investing the government with the right to coerce in the economy will help to maximize the economic efficiency.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Concept introduction:

Economic efficiency: The economic efficiency is a situation in which all the economic resources are being efficiently utilized and the resource wastage is minimized.

Answer 12

Ch. 5.A - Prob. 1ADQ Ch. 5.A - Prob. 2ADQ Ch. 5.A - Prob. 3ADQ Ch. 5.A - Prob. 1ARQ Ch. 5.A - Prob. 2ARQ Ch. 5.A - Prob. 3ARQ Ch. 5.A - Prob. 1AP Ch. 5.A - Prob. 2AP Ch. 5 - Prob. 1DQ Ch. 5 - Prob. 2DQ

The role of Government coerce in maximizing economic efficiency.

The role of Government coerce in maximizing economic efficiency.

Explanation of Solution

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