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What are some of the potential obstacles that can prevent a market from reaching the efficient outcome? Briefly define each obstacle.
Forfeit
To relinquish or forfeit something due to misconduct or not adhering to specific stipulations.
Sociology Department
An academic division within a college or university that focuses on the study of social behavior, societal changes, and the structure of social institutions.
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An institution of higher education and research, which grants academic degrees in various subjects.
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