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Market Equilibrium Will Always Be Efficient Even If It Is

question 203

True/False

Market equilibrium will always be efficient even if it is not equitable.


Definitions:

Moral Principles

Fundamental beliefs about what is right and wrong, which guide individuals’ behavior and decision-making processes.

Selflessness

Placing the needs and well-being of others before one's own interests.

Compassion

A deep awareness of and sympathy for another's suffering combined with the desire to alleviate that suffering.

Social Contract Stage

A phase in societal development where individuals agree to form a community or society under a set of shared norms, values, and rules for mutual benefit.

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