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Chapter 6 Efficiency and fairness of markets Explain. 10. The winner of the men's or women's tennis singles at the U.S. Open is paid twice

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Chapter 6 Efficiency and fairness of markets

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Explain. 10. The winner of the men's or women's tennis singles at the U.S. Open is paid twice as much as the runner-up, but it takes two players to have a singles final. Is this compensation arrangement efficient? Is it fair? Explain why it might illustrate the big tradeoff

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