Explain what is meant by transitional inefficiencies


Problem

Carefully explain what is meant by transitional inefficiencies? A few possible sources of transitional inefficiencies were noted in the text. Can you list two or three other sources of such inefficiencies in less-developed economies? Why are these called "transitional" inefficiencies and not just "inefficiencies"?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Explain what is meant by transitional inefficiencies
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