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TOPIC # 1 Rationing a. For each of these systems of rationing, state who receives the good or service being rationed: command lottery first-come first-served

TOPIC # 1 "Rationing"

a. For each of these systems of rationing, state who receives the good or service being rationed:

command

lottery

first-come first-served

price

b. Explain what each of these desirable characteristics of a system of rationing means:

fairness

efficiency

minimized opportunity cost

minimized discrimination

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