Why is an auction,or even a random lottery,considered better than the Henrico County scheme used to sell Apple laptops for $50?
A) Because it results in each laptop being sold at the equilibrium price.
B) Because it avoids costs associated with waiting and injuries from a stampede.
C) Because it avoids Henrico County government's control of the market.
D) Because it will lower the price of laptops other than the 1,000 units offered by the government of Henrico County.
Correct Answer:
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