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jacksonfive09 jacksonfive09
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4 years ago
Prices below the free market equilibrium price are inefficient because:

▸ no one can be made better off without hurting someone by participating in another transaction.

▸ all mutually beneficial transactions happen.

▸ more goods could be produced using society's resources.

▸ they prevent mutually beneficial transactions.
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
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eltoroeltoro
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4 years ago
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jacksonfive09 Author
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4 years ago
Thanks
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