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Author Question: Pick the best answer using the economic way of thinking. If information is a scarce good, then ... (Read 68 times)

serike

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  • Posts: 542
on: Jun 29, 2018
Pick the best answer using the economic way of thinking. If information is a scarce good, then ignorance might be
 
  A) a sin.
  B) stupid.
  C) bliss.
  D) rational.
  E) inefficient.

Question 2

When a good becomes more scarce, and the government prevents sellers from raising prices,
 
  A) demanders are prevented from competing against one another to obtain the good.
  B) the opportunity cost to purchasers of obtaining the good will nonetheless rise as long as the quantity demanded is greater than the quantity supplied.
  C) the quantity purchased will be greater than the quantity supplied.
  D) there will be no rationing system to allocate the good among competing users.


Eunice618

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

D

Answer to Question 2

B


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