Explain why economists believe that in standard markets the equilibrium is efficient, and welfare is maximized. Use

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Explain why economists believe that in standard markets the equilibrium is efficient, and welfare is maximized. Use and describe the fundamental assumptions and laws of economics.

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Microeconomics Theory and Applications with Calculus

ISBN: 978-0133019933

3rd edition

Authors: Jeffrey M. Perloff

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Posted Date: Sep 06, 2018 03:12 AM

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Explain why economists believe that in standard markets the equilibrium is efficient, and welfare is maximized. Use

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Economists believe that at the equilibrium position the demand forces equal the supply forces It ... View the full answer

Microeconomics Theory and Applications with Calculus

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