Author Question: Assuming supply is held constant, an increase in demand for a product will cause an increase in the ... (Read 70 times)

go.lag · **on:** Jun 30, 2018

Assuming supply is held constant, an increase in demand for a product will cause an increase in the equilibrium price and the amount bought and sold.
a. True
b. False
Indicate whether the statement is true or false

Question 2

A public good will:
a. be efficiently provided by the free market as long as its total benefits exceed its total costs.
b. be efficiently provided by the free market as long as its marginal benefits exceed its marginal costs.
c. be provided in less than efficient quantities by the free market.
d. be provided in efficient quantities by voluntary contributions.
e. not be provided by the government.