Efficiency impacts of Government policy
✍
Shujie Yao
📂
Article
📅
1999
🏛
Elsevier Science
🌐
English
⚖ 115 KB
Government intervention can create or enhance private incentives for farmers to produce certain crops at the expense of others. It may also induce allocative inefficiency. However, when externalities exist, or when market failures prevent the production system from achieving its best allocative effi