Multiple Choice
When economists talk about "optimal outcomes" in the marketplace,they mean that
A) The allocation of resources by the market is perfect.
B) All the consumer desires are satisfied and business profits are maximized.
C) The allocation of resources by the market is likely to be the best possible,given scarce resources and income constraints.
D) Everyone who wants a good or service can have it.
Correct Answer:

Verified
Correct Answer:
Verified
Q89: Suppose there are a series of forest
Q90: An increase in the price of one
Q91: A market in which final goods and
Q92: If a price is below equilibrium,<br>A)A shortage
Q93: An increase in the price of gasoline
Q95: Ceteris paribus means<br>A)Holding everything constant except for
Q96: What is a market surplus,and how does
Q97: Who participates in markets?<br>A)Business firms.<br>B)Business firms and
Q98: In most markets,the equilibrium price is achieved<br>A)Through
Q99: One of the two reasons why we