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1. Suppose you have more books than you want but would like to have more sporting...

1. Suppose you have more books than you want but would like to have more sporting goods. Explain how your well-being would be affected if a law existed preventing the trading of books for sporting goods. How would such a law affect efficiency in the use of resources? Show how a law banning the sale of books will cause a loss in efficiency.

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if there was a law which prevented the trading of books for sporting goods , I would not be able to get the sporting goods i needed in exchange for my books . So for me to get the sporting goods i want i will have to spend more money . And at the same time , my books will be idle .In an efficient market, i would have exchanged my books for the sporting goods i needed. But now my books are idle and i have to spend additional money to get sporting goods causing inefficiency.

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