Question: 4. (5 points) Describe a situation in which a difference between efficiency and equity has caused society to disallow a potentially mutually beneficial transaction (do

4. (5 points) Describe a situation in which a difference between efficiency and equity has caused society to disallow a potentially mutually beneficial transaction (do not use the example from the textbook or my example from class). Explain why society or policy makers have decided that efficiency might be less desirable than equity in this circumstance. Do you agree that equity should be considered more than efficiency in this situation? Why or why not

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2. Value-oriented information and

1. Empirical or factual information,