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ECON 101 Chapter Notes - Chapter 0: Market Failure, Middle Age

United States

Principles of Economics I

Economics

Ronald C Caldwell

University of Michigan - Ann Arbor

Calculus II

General Chemistry: Macroscopic Investigations and Reaction Principles

General Chemistry Laboratory I

Writing and Academic Inquiry

Calculus I

Green Engineering - Harnessing the Wind

<p><div class="header" style="font-size:1.2em;font-weight:bold;border-bottom-width:1px;border-bottom-style:solid;border-bottom-color:rgb(170,170,170);background-color:rgb(245,245,245);padding:8px 20px;margin:0px;color:rgb(45,59,69);">When an owner of a productive resource deploys that resource where he gets the highest price for it, he is not only deploying that resources where it will create greatest value of final output but is also maximizing his own welfare. The greed of the owner and the efficient allocation of productive resources are congruent in a capitalist economy.</td> </tr> </tbody> </table> </div> </div> </div></p>

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ECON 101 Chapter Notes - Chapter 0: Market Failure, Middle Age

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