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When individuals choose from whatever alternatives available to them the one that maximizes their utility then it is …
Persistent link: https://www.econbiz.de/10011505924
A strong case for public provision of certain private goods has been established for an economy in which individuals have homogeneous preferences but differ in skill levels. There has been a critique of this model/mechanism arguing that heterogeneous preferences at a given skill level would...
Persistent link: https://www.econbiz.de/10011507888