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8 May, 17:40

The allocative function of price cannot operate unless there is:

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  1. 8 May, 17:53
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    The idea behind the allocative function of price is to distribute scarce goods to those consumers who value them most highly.

    Allocative function is the role that prices play in directing resources away from overcrowded markets and towards markets that are underserved. The allocative function of price cannot operate unless there is free entry and free exit.
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