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• Production is subject to economies of scale occurs when doubling of all inputs of production results in more than doubling output.
• Competition generates economic growth
• Externality cost efficiency. When benefits or cost of a transaction fall on a third party, the market outcome is socially inefficient.
• Prices adjusts to achieve locational equilibrium.
• Scale reinforcing effects generates extreme outcome.
skilled writter answered the question on April 27, 2018 at 17:51
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