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First year economics students approach you with what they believe would be the best way to ensure market efficiency is realized in an African economy.

First year economics students approach you with what they believe would be the best way to ensure market efficiency is realized in an African economy. Their belief is that there should be no government intervention in the running of the markets. Instead let the invisible hand take its toll and equilibrium will be realized at a point where market efficiency is achieved. As a masters student studying public sector economics, what would your advice be to these first year students? Give examples in your explanation where applicable.

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