An efficient allocation of resources requires each product’s price equals its marginal cost.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Saving is a(n) ________ and wealth is a(n) ________.
A. asset; liability B. stock; flow C. flow; stock D. liability; asset
Damian is texting while driving and ends up slamming into the back end of the car in front of him, which then strikes the car in front of it. By texting while driving, Damian has created a
A. negative externality. B. positive externality. C. nonexcludable public good. D. marginal social benefit.
Define the three functions of money
What will be an ideal response?
Jack buys a computer from Sam, knowing fully well that the technology used in it is obsolete. In this case, the trade is
a. beneficial to both parties. b. beneficial only to Sam. c. beneficial only to Jack. d. not beneficial to either of them.