Government officials tend to make

Question

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Government officials often lack the information necessary to accurately weigh marginal benefits and marginal costs. They also face political pressures and incentives that can lead to inefficient decision-making. Private individuals, on the other hand, have a stronger incentive to make efficient decisions because they bear the costs and reap the benefits directly. Additionally, in a competitive market, the invisible hand can guide private individuals towards efficient resource allocation.

Government Officials Tend to Make