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Question 4 - The opportunity cost (or marginal cost) to society of providing a single MRI scan is essentially zero. Yet, hospitals charge substantially more.
Question 4 - The opportunity cost (or marginal cost) to society of providing a single MRI scan is essentially zero. Yet, hospitals charge substantially more. The result is the creation of dead weight loss. Based on this example, explain the concept of allocative efficiency.
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Hello, this is a question from my general economics class. I do not understand/know how to answer it. Can you please help me out? Thank you in advance!
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