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Describe Two Market Mechanisms That May Serve to Enhance Efficiency

question 5

Essay

Describe two market mechanisms that may serve to enhance efficiency and limit the lazy monopolist problem. Can efficiency be achieved by incentives other than profit?


Definitions:

Program Evaluation

The systematic assessment of the processes and outcomes of a program, with the aim to improve its effectiveness and efficiency.

Program Changes

Alterations or adjustments made to a set of planned actions or activities to achieve better outcomes or to adapt to new circumstances.

Problem Areas

General term referring to specific issues or challenges that need addressing or solving within a context.

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