The invisible hand concept suggests that

What will be an ideal response?


assuming competition, private and public interests will coincide.

Economics

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Why is the foreign exchange market so vital?

What will be an ideal response?

Economics

With full information, any contract will lead to production efficiency

Indicate whether the statement is true or false

Economics

An unexpected import restriction imposed on mangoes by the USDA

A) will reduce the price of mangoes in the United States. B) will increase the price of mangoes in the United States. C) will discourage American producers of mangoes. D) will reduce the price of mango juice in the United States.

Economics

Which of the following is not an explicit cost?

a. Salaries. b. Sales taxes. c. Utilities, such as gas and electricity. d. Insurance. e. The firm owner's time.

Economics