Multiple Choice
Under a perfectly competitive price system:
A) an equitable allocation of the available resources will always result.
B) there is no opportunity for individuals to trade amongst themselves.
C) there is no reason to expect that voluntary trading will result in an equitable allocation of the available resources.
D) none of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The reason externalities distort the allocation of
Q2: In volatile markets,"speculators" would be expected to
Q4: The Second Theorem of Welfare Economics states
Q6: Suppose two goods (x and y)are being
Q10: Suppose that the two persons in an
Q11: Suppose two individuals in an exchange economy
Q12: In order to assure allocative efficiency:<br>A)people's marginal
Q13: The slope of the production possibility frontier
Q14: Consider a two-good production economy in which
Q20: Each of the following factors might interfere