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Economics Help
Both demand and the supply curve of arable agricultural products tend to be extremely inelastic and a small change in output or demand is sufficient to trigger a large change in price, possibly leading to resourse misallocation.
From the sentence above the thing i do not get is that how can it lead to resourse misallocation
From the sentence above the thing i do not get is that how can it lead to resourse misallocation
efficiency, allocation, cost, who pays, free loaders etc etc
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