A distribution of goods is inefficient:
a. only when an economy is producing inside its production possibility frontier.
b. only when an economy is producing at the wrong point on the production possibility frontier.
c. either when an economy is producing inside the production possibility frontier or when an economy is producing at the wrong point on the production possibility frontier.
d. when the economy is producing at the optimal point on the production possibility frontier.
c. either when an economy is producing inside the production possibility frontier or when an economy is producing at the wrong point on the production possibility frontier.
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A) zero B) 3/2 pairs of socks per sweater C) 3 pairs of socks D) 2 sweaters
There are frequently situations where you have information on the conditional distribution of Y given X, but are interested in the conditional distribution of X given Y
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The way the government keeps price floors in effect is by _____.
Fill in the blank(s) with the appropriate word(s).