=+f. Suppose instead of a competitive market, a social planner determined how much x and how much
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=+f. Suppose instead of a competitive market, a social planner determined how much x and how much y every consumer consumes. Assume that the social planner is concerned about both the absolute welfare of each consumer as well as the distribution of welfare across consumers, with more equal distribution more desirable. Will the planner produce the same amount of x as the competitive market?
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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