1.

What Are The Advantages Of Leaving The Allocation Of A Country Resources To The Price Mechanism?

Answer»

The main conditions required are:

  1. Either a finite NUMBER of agents or goods.
  2. No externalities - That is, the consumption of ONE person should not harm or BENEFIT anyone else.
  3. No matter how much a person is consuming, they MUST be able to be made slightly happier by consuming a bit more of something.

The main conditions required are:


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