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The role of perfect competition
Market imperfections and the case for intervention
9 other sections not shown
achieved allocation analysis argued bundle capital cent central central place theory centre Chapter compensation concerning congestion tax considered consumer surplus consumers consumption contract curve crime criterion decentralization demand distribution of income distribution of welfare effects efficient employment equal equity example existence externalities factors Figure firms fulfilled gain given groups higher households housing implications improvement increase indicates indifference curve individual isoquants judgement labour land less low-income major marginal cost marginal rate marginal social maximum Merseyside Mishan motorists move noted optimal optimum output Paretian Pareto Pareto criterion Pareto optimum particular perfect competition population position preferences problems production real income redistribution reduce relative relevant rent result sector social costs social welfare social welfare function society spatial sub-optimal subsidies suburban suggests supply tion urban areas voting welfare economics welfare economist welfare function