Some economists believe that the market will not solve all problems. They are referring to:
A. optional policy.
B. market incentive plans.
C. the need to balance the good of the individual with the good of society as a whole.
D. market failure.
Answer: D
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To restrict a firm's monopoly power, why can't antitrust authorities just set a floor or a ceiling in the market?
What will be an ideal response?
Refer to Figure 5-16. What is the optimal quantity of street lights to install?
A) 3 B) 4 C) 6 D) 9
Capital budgeting projects include all of the following except
A) the purchase of a six-month treasury bill. B) the expansion of a plant. C) the development of a new product. D) the replacement of a piece of equipment.
Rather than always choosing the best course of action, humans make decisions that are merely good enough. In other words, they are