Using the same critical thinking presented in week 1


Using the same critical thinking presented in Week 1 Recitation, describe "the invisible hand" of the market. Does the invisible hand always work to generate the "best" economic outcome? Summarize two assumptions of free markets and then give an example of a real-life market, business, or transaction that violates each of these assumptions (note: it is ok to use different examples).

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Microeconomics: Using the same critical thinking presented in week 1
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