In a competitive market, maximum efficiency is achieved because of:

A.) Competitive pressure on prices.
B.) Differentiated products.
C.) High barriers to entry.
D.) Significant market power.


A.) Competitive pressure on prices.

Economics

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On the benefit side of the analysis, briefly describe two distinct benefits to society that are relevant to a risk-benefit analysis of pesticides.

Suppose you are part of an economic analysis team charged with recommending a policy response to pesticide risks. Your team decides to use risk-benefit analysis as its risk management strategy.

Economics

Refer to Figure 11-2. Based on the per-worker production function above, if the economy raises capital per hour worked from $35,000 to $40,000, by how much will real GDP per hour worked increase?

A) $150 B) $1,850 C) $2,000 D) $5,000

Economics

Supply-side economics is a short-run, countercyclical strategy.

Indicate whether the statement is true or false

Economics

Discuss the problem of population in developing nations using the rule of 70.

What will be an ideal response?

Economics