Microeconomics (Christopher T.S. Ragan) (z-lib.org)

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that the pursuit of allocative efficiency is a good thing. It is important to understand, however, that the goal of a more equit ...

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on the trip. Thus, to get a litre of water to its destination, more than a litre of water has to be removed from the reservoir. ...

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Measuring the efficiency costs of redistribution is an important area of economic research. One result from this research is tha ...

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Preferences for Public Provision Police protection and justice could, in principle, be provided by private markets. Security gua ...

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European countries, for example, choose public provision of daycare services, while in the United States these services are almo ...

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Protecting Individuals from Others People can use and even abuse other people for economic gain in ways that members of society ...

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Paternalism Members of society, acting through government, often seek to protect adult (and presumably responsible) individuals, ...

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Social Responsibility In a free-market system, if you can pay another person to do things for you, you may do so. If you persuad ...

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Military service is not the only example of a social responsibility. Citizens cannot buy their way out of jury duty or legally s ...

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A General Principle We have discussed how the free market may fail to achieve social goals that members of society deem to be de ...