In a command economy, such as the old Soviet Union, there were no prices for almost all

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In a command economy, such as the old Soviet Union, there were no prices for almost all goods. Instead, goods were allocated by a “central planner.” Suppose that a good like oil becomes more scarce. What problems would a central planner face in reallocating oil to maximize consumer plus producer surplus?
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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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