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    Principles of Microconomics
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    Exam 12: General Equilibrium and the Efficiency of Perfect Competition
  5. Question
    What Condition Must Be Satisfied So That Society Is Producing
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What Condition Must Be Satisfied So That Society Is Producing

Question 15

Question 15

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What condition must be satisfied so that society is producing the efficient mix of output? Why does this condition guarantee efficiency?

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It must be the case that price equals ma...

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