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Author Question: When resources are misallocated, or allocated inefficiently (Read 36 times)

ETearle

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on: Apr 19, 2019

Question 1

Assume that price underestimates the value that society places on the flu vaccine. If firms produce where 
P = 
MC, firms will be producing


◦ the socially efficient amount of flu vaccine.
◦ more than the socially efficient amount of flu vaccine
◦ less than the socially efficient amount of flu vaccine.
◦ so that consumer surplus is zero.

Question 2

When resources are misallocated, or allocated inefficiently


◦ market failure occurs.
◦ then there must be external costs or benefits in production.
◦ then it must be the case that there is imperfect information in the market.
◦ then it must be the case that the good is a public good.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by ETearle on Apr 19, 2019

dmurph1496

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ETearle

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

peter

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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