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Unformatted text preview: c. Why is the compensation policy more efficient than the firstcome, firstserved policy? d. Describe a way of financing the wardens compensation payments that will make everyone, including the warden, either better off or no worse off than under the firstcome, firstserved approach. 4. Suppose the weekly demand for a certain good, in thousands of units, is given by the equation P = 8  Q, and the weekly supply is given by the equation P = 2 + Q, where P is the price in dollars....
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This note was uploaded on 02/20/2012 for the course ECON 202 taught by Professor Brightwell during the Spring '08 term at Texas A&M.
 Spring '08
 BRIGHTWELL
 Consumer Surplus

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