When does inefficiency exist in an economy? when a good is distributed fairly among buyers when a good is not distributed fairly among buyers when a good is not being produced by the lowest-cost producers when a good is being consumed by buyers who value it most highly
When does inefficiency exist in an economy? when a good is distributed fairly among buyers when a good is not distributed fairly among buyers when a good is not being produced by the lowest-cost producers when a good is being consumed by buyers who value it most highly
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter3: Demand, Supply, And The Market Process
Section: Chapter Questions
Problem 14CQ
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![When does inefficiency exist in an economy?
when a good is distributed fairly among buyers
when a good is not distributed fairly among buyers
when a good is not being produced by the lowest-cost producers
when a good is being consumed by buyers who value it most highly](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1873d47c-97b0-4b2b-8ba5-d684f1b28a09%2F576c7a27-2d40-4c6f-8a0c-27617413b05e%2F0wiof1f_processed.png&w=3840&q=75)
Transcribed Image Text:When does inefficiency exist in an economy?
when a good is distributed fairly among buyers
when a good is not distributed fairly among buyers
when a good is not being produced by the lowest-cost producers
when a good is being consumed by buyers who value it most highly
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