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Kenneth Arrow discussed two important situations in which profit maximization can be socially inefficient. One of these occurs when
Third-party App
Applications developed by entities other than the original manufacturer of the device or the owner of the operating system.
Historical Data
Archived data from the past used for reference or analysis to understand trends, patterns, or to make future predictions.
Consumer Demographics
The statistical aspects of consumers such as age, income, gender, and education, used by businesses to identify target markets.
Industry Trends
Patterns and shifts in the market or industry behavior that demonstrate the general direction in which something is developing or changing.
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