Question in a command economy such as the old soviet union, Ask an Expert

Economics

Question: In a command economy such as the old Soviet Union, there were no prices for almost all goods. Instead, goods were allocated by a "central planner." Suppose that a good like oil becomes more scarce. What problems would a central planner face in reallocating oil to maximize consumer plus producer surplus?

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Microeconomics, Economics

Category:- Microeconomics
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