This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain what economic efficiency is. How does a price system lead to economic efficiency? What ... (Read 158 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
on: Jun 29, 2018
Explain what economic efficiency is. How does a price system lead to economic efficiency?
 
  What will be an ideal response?

Question 2

A merger between firms in which one firm purchases an input from the other is called a
 
  A) conglomerate merger.
  B) horizontal merger.
  C) vertical merger.
  D) none of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meryzewe

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

Market failure is a situation in which a market economy either allocates too few or too many resources to a specific economic activity. That is, it is a situation in which a market economy does not achieve economic efficiency. The price system achieves economic efficiency as long as there are not any market failures. But, when there are market failures, an unregulated price system does not achieve economic efficiency, and there is a potential role for government to intervene in some way to bring about an efficient situation.

Answer to Question 2

C


hbsimmons88

  • Member
  • Posts: 526
Reply 2 on: Jun 29, 2018
Wow, this really help

aruss1303

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

The central and peripheral nervous system The central and peripheral nervous system
Lymphatic system. Lymphatic system.
This modified model of Easton’s systems theory puts government decision makers as the source of pol This modified model of Easton’s systems theory puts government decision makers as the source of pol
The Alpha-Z Alphabetic Color-Coding System The Alpha-Z Alphabetic Color-Coding System
Disorders of the Female Reproductive System Disorders of the Female Reproductive System
Indicators of Relative Economic Well-Being Indicators of Relative Economic Well-Being
Video: Ciliate conjugation Animation

For a complete list of videos, visit our video library