Examine the embryo in the figure. The hands and feet of this embryo appear paddle-like, with no distinct toes or fingers. What process is needed to define each of the toes and fingers? 
Definitions:
Allocative Inefficiency
A situation where resources are not allocated in a way that maximizes the welfare or utility of consumers, often leading to a loss of economic efficiency.
Regulation Prices
Regulation prices involve government-imposed limits on the prices that can be charged for goods and services in certain markets to protect consumer interests.
Unregulated Monopolist
A monopolist that operates without governmental restrictions or regulations, freely setting prices and output levels without external interference.
Market Efficiency
Market efficiency refers to the extent to which market prices fully reflect all available information, leading to an optimal allocation of resources.
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