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Illustrates a problem of Distributive Efficiency

Bob the Baker and Bill the Butcher while both would be willing to trade three loaves of bread for a pair of T-Bone steaks, but for several reasons they not include: (i) Bob must become a vegetarian so he doesn't contain to rely upon Bill. (ii) The economy has productive although not allocative efficiency. (iii) The opportunity cost for bread or steaks is higher. (iv) The economy is not practicing distributive efficiency.

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