Author Question: An efficient allocation of productive inputs requires that: a. each output has the same rate of ... (Read 43 times)

DelorasTo · **on:** Jul 1, 2018

An efficient allocation of productive inputs requires that:
a. each output has the same rate of technical substitution among inputs used.
b. each output has the same marginal rate of substitution for consumers.
c. each pair of outputs has the same rate of product transformation.
d. each individual has the same marginal rate of substitution between outputs.

Question 2

The lower the barriers to entry and exit, the more nearly a market structure fits the ____ market model.
a. monopolistic competition
b. perfectly contestable
c. oligopoly
d. monopoly
e. none of the above