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Welfare Analysis

Welfare Analysis. Ranking Economic systems. Objective: to find a criteria that allows us to rank different systems or allocations of resources. This criteria will allow us to answer a question like: Although the minimum wage law creates winners and loser, is it better than the free market?.

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513 views • 38 slides

Welfare Analysis

Welfare Analysis. Consumers, Producers and Welfare Economics. Welfare Economics What is the right amount of the good that should be produced? Can the market system ensure that this amount is produced? If not, can government policy give us the right amount of production?.

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516 views • 35 slides

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Welfare Analysis

Welfare Analysis