Asked by Tishera Brooks on Jun 18, 2024
Verified
Even if a market outcome is efficient, it may not be equitable.
Market Outcome
The result of all the buying and selling activities within a particular market, including price levels and quantities traded.
Equitable
Equitable refers to something characterized by fairness, impartiality, and justice, particularly in the way people are treated or decisions are made.
- Understand the concepts of market efficiency and equity.
Verified Answer
CC
christina castanonJun 20, 2024
Final Answer :
True
Explanation :
Efficiency in market outcomes refers to the optimal allocation of resources, where goods and services are produced at the lowest cost and consumed by those who value them the most. However, this does not necessarily lead to equitable outcomes, as it does not consider the fairness or equality of the distribution of wealth and resources among individuals.
Learning Objectives
- Understand the concepts of market efficiency and equity.
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