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Author Question: Explain how the input and output markets are connected. What will be an ideal ... (Read 125 times)

serike

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Explain how the input and output markets are connected.
 
  What will be an ideal response?

Question 2

Subsidizing education can lead an efficient level of production because education has external benefits.
 
  Indicate whether the statement is true or false



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poopface

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Answer to Question 1

Input and output markets are connected through the behavior of both firms and households. Firms determine the quantities and character of outputs produced and the types and quantities of inputs demanded. Households determine the types and quantities of products demanded and the quantities and types of inputs supplied.

Answer to Question 2

TRUE




serike

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


Missbam101

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Reply 3 on: Yesterday
Excellent

 

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