Many people who do not smoke cigars are bothered by the odor of cigar smoke. If private
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Many people who do not smoke cigars are bothered by the odor of cigar smoke. If private contracting is impossible, will too many or too few cigars be produced and consumed? Taking all costs into account, is the market price of cigars too high or too low?
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Without private contracting the market for cigars would likely be inefficient in terms of production ...View the full answer
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