Multiple Choice
Most economists support the idea of peak-load pricing on the grounds of
A) fairness in income distribution.
B) efficiency in input usage.
C) equality of opportunity.
D) efficiency in output allocation.
Correct Answer:
Verified
Correct Answer:
Verified
Q102: Which of the following statements concerning efficiency
Q103: The invisible hand enforces the tendency toward<br>A)MR
Q104: Lower prices are always better for society.
Q105: Figure 11-2<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 11-2
Q106: Price decreases always increase economic efficiency.
Q108: Total surplus is<br>A)the sum of consumer's surplus
Q109: In a free-market system, producers will react
Q110: Under laissez-faire, the allocation of scarce resources
Q111: In a free-market economy, prices coordinate society's
Q112: The price mechanism solves the "for whom"