« previous next »

Author Question: What are some reasons why coordination of economic affairs through the price system may not work ... (Read 21 times)

jman1234

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
What are some reasons why coordination of economic affairs through the price system may not work perfectly?
 
  What will be an ideal response?

Question 2

Refer to Figure 4.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, if the market quantity demanded is 5, the price must be
 
  A) 3. B) 6. C) 9. D) 12.
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


amandalm

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jun 30, 2018
Answer to Question 1

There are a number of correct answers here, but three principal reasons are that there may be too few prices (that is, more markets than prices), prices may not contain sufficient information, and prices may be sticky.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

The vertebrate vestibular system. The vertebrate vestibular system.
Relationship between the pancreas and the digestive system. Relationship between the pancreas and the digestive system.
Soil as a system Soil as a system
Neurotransmitters of the Autonomic Nervous System (1 of 2) Neurotransmitters of the Autonomic Nervous System (1 of 2)
AACN Standards for Healthy Work Environments AACN Standards for Healthy Work Environments
Human urinary system. Human urinary system.
Video: Gas exchange - partial pressure, locations, external and internal respiration

For a complete list of videos, visit our video library