Suppose that in the market for used textbooks the equilibrium price is $30, but it is mistakenly
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Suppose that in the market for used textbooks the equilibrium price is $30, but it is mistakenly announced that the equilibrium price is $300. How does this affect the efficiency of the market? Be specific.
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The mistaken announcement of the equilibrium price as 300 in the market for used textbooks would lead to several inefficiencies in the market Market D...View the full answer
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