Lecture Notes Chapter 7

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It was 1970 and financial times looked bleak as the United States was entering what is now referred to as a mild recession. An engineer, we will call him Marv, at the Long Island location of Grumman A...

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In most of the cases, government is found to be intervening in the markets in order to address inefficiency. In case of an optimally efficient market, resources are being allocated

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