For each of the following hypothetical policies, indicate which of the three efficiency conditions (exchange, input, and

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For each of the following hypothetical policies, indicate which of the three efficiency conditions (exchange, input, and output) are violated, if any. (a) The government bans orange juice. (b) The government assigns a house or apartment to each family and prohibits swapping. (c) The government subsidizes the use of capital for oil exploration.
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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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