Assuming supply is held constant, an increase in demand for a ...

[go.lag]

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.

[jomama]

Answer to Question 1

True

Answer to Question 2

c

[go.lag]

Thanks for the timely response, appreciate it

[yeungji]

YES! Correct, THANKS for helping me on my review