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Author Question: The resource income earned by those who supply labor services is called A) profit. B) bonus. C) ... (Read 41 times)

erika

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on: Jun 29, 2018
The resource income earned by those who supply labor services is called
 
  A) profit. B) bonus.
  C) stock options. D) wages and salaries.

Question 2

Why would the market economy produce too little healthcare?
 
  What will be an ideal response?


Ahnyah

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The markets for healthcare will produce less than the efficient quantity because consumers of healthcare take account of only the benefits that accrue to them. They ignore the marginal social benefit that exceeds their perceived marginal benefit. Therefore the consumers' demand for healthcare is less than the marginal social benefit from healthcare so the quantity of healthcare services produced is less than the efficient quantity.


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