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Author Question: How do speculators provide a more rational guide to production and consumption decisions compared to ... (Read 51 times)

JMatthes

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on: Jun 30, 2018
How do speculators provide a more rational guide to production and consumption decisions compared to markets?

Question 2

A perfectly competitive firm cannot affect the market price by raising or reducing its supply of a product.
 a. True
  b. False
  Indicate whether the statement is true or false


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mtmmmmmk

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The price level which results from speculation reflects both the present and the future price of the commodity. It is thus considered a more useful guide to rational consumption and an accurate measure of scarcity.

Answer to Question 2

True


JMatthes

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

tandmlomax84

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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