To Be Efficient, a Competitive Equilibrium Must Satisfy Output Efficiency

question 54

True/False

To be efficient, a competitive equilibrium must satisfy output efficiency.

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Definitions:

Government-Run Employment Agencies

Government-run employment agencies are agencies established by governments to help individuals find employment and assist employers in finding suitable candidates for their job openings.

Public Training Programs

Government-sponsored initiatives designed to enhance the skills and employability of the workforce.

Private Market

A marketplace where transactions are made directly between two parties without government intervention, typically involving private property or assets.

Public Training Programs

Government-sponsored initiatives designed to enhance the skills and employability of individuals, often aimed at reducing unemployment or addressing skill shortages in the economy.