A major reason why the market equilibrium for a manufactured good may not be efficient is O the industry is producing too little output. O there is likely to be a positive externality associated with production. the industry is likely to be a monopoly. O there is too much government regulation. property rights are not well defined.

A major reason why the market equilibrium for a manufactured good may not be efficient is O the industry is producing too little output. O there is likely to be a positive externality associated with production. the industry is likely to be a monopoly. O there is too much government regulation. property rights are not well defined.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter11: Monopoly And Antitrust Policy

Section: Chapter Questions

Problem 39P: If the transit system were regulated to provide the most allocatively efficient quantity of output,...

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