2. Use the ideas of consumer surplus and producer surplus to explain why economists say competitive markets

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2. Use the ideas of consumer surplus and producer surplus to explain why economists say competitive markets are efficient.

Why are below- or above-equilibrium levels of output inefficient, according to these two sets of ideas? LO4.2

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Macroeconomics

ISBN: 9781259915673

21st Edition

Authors: Campbell McConnell, Stanley Brue , Sean Flynn

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Question Posted: Sep 28, 2024 07:00 AM

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2. Use the ideas of consumer surplus and producer surplus to explain why economists say competitive markets

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Macroeconomics

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