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Posted on Jun 13, 2024

assuming that there are no external costs or benefits, no price ceilings or price floors, and that the good is not a public good, then

assuming that there are no external costs or benefits, no price ceilings or price floors, and that the good is not a public good, then efficiency is

a) unrelated to the amount produced in a competitive market

b) achieved when the good is produced in a competitive market

c) achieved when a monopoly produced the good

d) achieved when the amount of output exceeds the amount produced in a competitive market

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