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Question 1 When there are no externalities, competitive markets when left unregulated are efficient whereas taxed markets are

True or False. When there are no externalities, competitive markets when left unregulated are efficient whereas markets serve

When there are externalities, competitive markets when left unregulated are inefficient. True O False

When a price ceiling is imposed and the price ceiling charges a price that is higher than the equilibrium price then a surplu

When a price ceiling is imposed and the price ceiling charges a price that is lower than the equilibrium price then a shortag

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Answer #1

1) true

When there are no externalities competitive markets are efficient when left unregulated.

2) true

Competitive market is efficient and monopoly is not.

3) true

When there are externalities competitive markets are inefficient.

4) false

Price ceiling charged above equilibrium price is inefficient.

5) true

Price ceiling charged below equilibrium price is efficient.

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