1 moving from an economically inefficient to, Microeconomics

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1 moving from an economically inefficient to

1. Moving from an economically inefficient to efficient allocation of resources will necessarily increase benefits by more than costs.

2. There are two demand curves for a private (i.e. normal consumption) good: P=30-q₁ & P=30-2q₂. Let Q=q₁+q₂ be the total quantity demanded on the market. What is the equation for the total (market) demand ?

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Microeconomics: 1 moving from an economically inefficient to

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Microeconomics: 1 moving from an economically inefficient to

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