Even if a market outcome is efficient, it may not be equitable.

Name: Even if a market outcome is efficient, it may not be equitable.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

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.

Even If a Market Outcome Is Efficient, It May Not