Resource allocation is a key challenge in any market and economy. Fair and appropriate allocation of resources will ensure the correct amount of needed resources is allocated to the economic sector for production of goods and services for both the domestic and export market. The question is how...

Price control for consumer goods typically would result in poor quality products at a low price or acceptable products sold at an elevated price. Auction theory posits that the market price discovery mechanism depends on perfect competition where for each good, supply meets demand and the price...