Markets fail to maximize total surplus when:
A. individual choices impose costs or benefits on others.
B. society's choices impose costs or benefits on other societies.
C. when all costs and benefits are received by participants in transactions.
D. producer surplus is not exactly equal to consumer surplus.
A. individual choices impose costs or benefits on others.
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A firm's trademark is protected from misuse if it is registered with the
A) U.S.D.A. B) U.S. Patent and Trademark Office. C) U.S. Supreme Court. D) F.C.C.
If the price elasticity of demand is equal to zero and the price was to rise, the quantity demanded would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.
Contractionary fiscal policy actions will ________ the price of farm commodities
Fill in the blank(s) with correct word
Country B is a closed economy with no government and a fixed aggregate price level. There are only two sources of aggregate demand, consumer spending and investment spending. In country B, we have that aggregate disposable income Yd, equals GDP. Write down the income-expenditure equilibrium and explain why the over time the economy moves back to the income-expenditure equilibrium.
What will be an ideal response?