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    efficiency vs equity discussion

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    A competitive market is intended to result in enhanced efficiency, though it will not necessarily improve equity. That is, a competitive market may encourage efficient production but may not necessarily result in a redistribution of wealth - it may not make society better off. Address how this statement applies to the delivery and financing of medical care in the U.S. today.

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    A competitive market for medical care might lead an equilibrium in which price is so high that the poorest in society don't have access to care. If you think of a ...

    Solution Summary

    A competitive market is intended to result in enhanced efficiency, though it will not necessarily improve equity. That is, a competitive market may encourage efficient production but may not necessarily result in a redistribution of wealth - it may not make society better off. Address how this statement applies to the delivery and financing of medical care in the U.S. today.

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