Question: 3.0 Allocative Efficiency So far, we specifically looked at the market from the construction of new housing perspective. Consider from now on the market for

3.0 Allocative Efficiency

So far, we specifically looked at the market from the construction of new housing perspective. Consider from now on the market for all housing (Construction of new Houses, new Multi-Unit Apartment and Townhouse Construction and Established Homes).

3.1 Briefly define allocative efficiency. Identify and explain two sources of allocative inefficiency in the housing market.

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