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Question 1: If society is producing more than the free-market equilibrium quantity of a good, then the market is considered inefficient. True or False and

Question 1:If society is producing more than the free-market equilibrium quantity of a good, then the market is considered inefficient. True or False and Why?

Question 2: Over the years, the rising costs of creating live music performances have caused the demand curve to shift to the left, therefore decreasing the price of concert tickets. True or False and Why?

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