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Good X is a perfectly competitive market. The equilibrium quantity is 22 million units of good X. Why is 22 million units closer to allocatively efficient than 25 million units?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 10QP

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Good X is a perfectly competitive market. The equilibrium quantity is 22 million units of good X. Why is 22 million units closer to allocatively efficient than 25 million units?.

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