In a free-market economy, the pricing mechanism always operates to
a. produce an equitable distribution of income.
b. provide an efficient allocation of resources.
c. correct any inequality in distribution of output.
d. equate consumers' desires with ability to pay.
b
Economics
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In the above figure, the lowest price for which the firm will sell its second ton of wheat is
A) $25. B) $50. C) $75. D) $100.
Economics
The budget line and the indifference curve are geometric devices used to provide a closer look at consumer choice
a. True b. False Indicate whether the statement is true or false
Economics
When disposable income is 3750, the APS is about
A. .6.
B. .45.
C. .35.
D. .25.
Economics
Discretionary government policy ensures the stabilization of the economy.
Answer the following statement true (T) or false (F)
Economics