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Eficiencia y Equidad - Capt 5 - Economia

Eficiencia y Equidad - Capt 5 - Economia

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Published by Carlos Soto Santoni
Chapter 5 - Economics 8/e - Michael Parkin
Chapter 5 - Economics 8/e - Michael Parkin

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Published by: Carlos Soto Santoni on Nov 26, 2009
Copyright:Attribution Non-commercial


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Efficiency and Equity
After studying this chapter you will be able to
Describe the alternative methods of allocating scarceresources
Explain the connection between demand and marginalbenefit and define consumer surplus
Explain the connection between supply and marginalcost and define producer surplus
Explain the conditions under which markets moveresources to their highest-value uses and the sourcesof inefficiency in our economy
Explain the main ideas about fairness and evaluateclaims that markets result in unfair outcomes
Self-Interest and Social Interest
When you buy a pair of shoes or a textbook or fill your gastank, or even just take a shower, you express your viewabout how scarce resources should be used.You make choices that are in your self-interest.Markets coordinate your choices with those of everyoneelse.Do markets do a good job?Do they enable our self-interest choices to be in the socialinterest?And do markets produce a fair outcome?

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