Solved

When Either the Costs of Production or the Benefits of Consumption

Question 83

Multiple Choice

When either the costs of production or the benefits of consumption to individuals differ from those of society:


A) the equilibrium output will be the socially optimal output.
B) the equilibrium is not efficient.
C) the allocation of resources remains correct.
D) the invisible hand had completely failed.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q78: The statement,"If a deal is too good

Q79: Implicit costs:<br>A)are always fixed.<br>B)measure the forgone opportunities

Q80: The following graphs depict a perfectly competitive

Q81: The Smart for One,Dumb for All principle

Q82: Economic rent is:<br>A)the amount you pay for

Q84: Adam Smith coined the term "invisible hand"

Q85: Which of the following statements expresses the

Q86: Free entry of firms is a characteristic

Q87: The statement,"price directs resources across different sectors

Q88: Pat used to work as an aerobics