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Author Question: Explain how the input and output markets are connected. What will be an ideal ... (Read 119 times)

serike

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on: Jun 29, 2018
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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Reply #1 on: Jun 29, 2018
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
Thanks for the timely response, appreciate it

Liamb2179

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Reply 3 on: Yesterday
Excellent

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