Business, 24.10.2019 03:00 rachelvasky9

The distinction between efficiency and equality can be described as follows:
a. efficiency refers to minimizing the price paid by buyers; equality refers to maximizing the gains from trade among buyers and sellers.
b. efficiency refers to maximizing the size of the pie; equality refers to distributing the pie fairly among members of society.
c. efficiency refers to maximizing the number of trades among buyers and sellers; equality refers to maximizing the gains from trade among buyers and sellers.
d. efficiency refers to maximizing the size of the pie; equality refers to producing a pie of a given size at the least possible cost.

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a. efficiency r...

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