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When does equilibrium also reflect maximizing social benefits?
10-12-2012, 11:23 PM
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Mike Offline
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When does equilibrium also reflect maximizing social benefits?
Can anyone help me out? I'm having trouble with my economics homework.
Within a market, since demand is assumed to reflect private benefits and supply reflects private costs, equilibrium reflects maximizing net private benefits. When does this equilibrium also reflect maximizing social benefits? When does it not reflect maximizing social benefits? In the cases where it does not, elucidate the problem.
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When does equilibrium also reflect maximizing social benefits? - Mike - 10-12-2012 11:23 PM
[] - mikethechampion - 10-12-2012, 11:31 PM

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