What two conditions must hold for a competitive market to produce efficient outcomes?

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03-03-2017
Business

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What two conditions must hold for a competitive market to produce efficient outcomes?

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MasterKevin MasterKevin · Answer 1 · 2017-03-03T09:49:58+01:00

MasterKevin MasterKevin

03-03-2017

Those are supply curves and demand curves. Supply curves have to meet the production requirements, while demand curves have to meet the consumer's willingness to pay.

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