Who gets scarce resources in a market economy

Assignment Help Business Economics
Reference no: EM13859901

Who gets scarce resources in a market economy?

a. The government

b. Whoever the government decides gets them

c. Whoever wants them

d. Whoever is willing and able to pay the price

Reference no: EM13859901

Questions Cloud

Draw his budget constraint and indifference curves : Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. (Milk and coffee are perfect complements here). Coffee costs $1/oz, and milk $0.5/oz. Draw his budget constraint and indifferenc..
Identify whether all the elements of negligence are present : Identify whether all the elements of negligence are present and, if so, who or what entity will be sued successfully: The same patient, same history, same symptoms, has a different ER doctor who decides without examination that the patient has indige..
Opponents of the minimum wage point out that minimum wage : Opponents of the minimum wage point out that the minimum wage:
Price of a good leads to an increase in total revenue : Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for the good must be:
Who gets scarce resources in a market economy : Who gets scarce resources in a market economy?
Suppose there is an increase in the price of steel : Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to:
An outcome that can result from either a price ceiling : An outcome that can result from either a price ceiling or a price floor is:
If nonbinding price floor is imposed on market : If a nonbinding price floor is imposed on a market, then:
When quantity moves proportionately to same amount as price : When quantity moves proportionately to the same amount as price, demand is:

Reviews

Write a Review

Business Economics Questions & Answers

  How would an increase in airfares affect the number

Elucidate how would an increase in airfares affect the number of highway fatalities in any one year

  Qa survey of households in a small town showed that in 850

q.a survey of households in a small town showed that in 850 of 1200 sampled households at least one member attended a

  Ticket price ceiling placed on a monopoly sports franchise

Explain with a graph and a verbal explanation how a ticket price ceiling placed on a monopoly sports franchise (that does not sell out its games) may actually lower ticket prices and raise attendance.

  Optimal solution in free market using marginal cost analysis

Consider the problem of the apple farmer. In your own words, explain the farmer’s optimal solution in the free market using marginal cost analysis. How might this solution be suboptimal from society’s perspective? Explain who benefits and is harmed u..

  Import tariffs that president bush placed on imported steel

The import tariffs that President Bush placed on imported steel likely had what effect?

  Cost function of single-product firm

An economist estimated that the cost function of a single-product firm is: C(Q) = 110 + 20Q + 30Q2 + 10Q3. Based on this information, determine the following:

  Considered by economists to be a natural monopoly

Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly. What characteristics of the industry make it a monopoly? What is the impact of the monopoly power on its customers? Why might gove..

  Fixed payment loan

Suppose you plan to purchase a Ford Mustang and need a car finance of $12,000. You take the loan from the K-State Credit Union at 3.5% interest rate. What is the yearly payment to the bank to pay off the loan in 10 years? Please do not just write the..

  James maximum moving expense

James earned $10,000 in income in his new job in Nova Scotia after the move and his employer paid him $1,000 specifically to cover the cost of the move, but doesn't specify what it can be used for.

  Write out the company tms total average and marginal cost

After set up there is a marginal cost of $ 4 for each CD. Set up the total, average and marginal revenue functions for GDM. Write out the company TM s total average and marginal cost functions.

  What is the present value

how much would the original $20,000be worth in three years? What is the present value of the $25,000? Which option should Howard choose?

  What is marginal product when total product is zero

Find the output levels where total product and average product are maximized. What is marginal product when total product is zero?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd